American Water to Acquire Keystone Clearwater Solutions

American Water Works Co. Inc. has agreed to acquire Keystone Clearwater Solutions from Rex Energy Corp. The transaction values the company at $130 million. Keystone, headquartered in Hershey, Pa., is a water service provider offering a range of water related services to the oil and gas industry primarily in the Appalachian region of Pennsylvania, Ohio and West Virginia. Notably it provides turnkey water solutions to the shale gas industry. Keystone’s offerings are in line with American Water’s core competencies—supplying, transmitting, pumping and storing water and building the infrastructure required to do so, according to Susan Story, president and CEO of American Water.