DALLAS, June 19, 2014 /PRNewswire/ -- The management team of Oilfield Water Logistics, LLC (OWL) has partnered with NGP Natural Resources X, L.P. and NGP Energy Technology Partners II, L.P. as equity sponsors. OWL is a new company formed to acquire, develop, and manage water-related and other oilfield fluids infrastructure and services in the energy industry.
"We are excited to partner with NGP and form OWL to consolidate best-in-class oilfield water operations and provide dependable solutions for energy companies on a national scale. NGP brings significant capital, expertise and relationships to help establish OWL as an industry leader," says Chris Cooper, CEO. Cooper is joined by a seasoned management team at OWL, including Nevin Bannister, Roger Johnson and Matt Thiel.
In May, OWL acquired an initial portfolio of saltwater disposal wells and entered into exclusive surface use agreements in New Mexico to serve oil and gas producers in the Permian Basin, where OWL is actively seeking additional investment and acquisition opportunities. These properties and relationships create a network of water infrastructure across southeast New Mexico for companies active in plays such as the Bone Spring and others.
Oilfield Water Logistics, LLC (OWL) provides a complete suite of water and other fluids management services to the energy industry including supply, pipeline transport, reclamation and disposal. The company is currently active in the Permian Basin and is seeking investment and development expansion opportunities nationwide. OWL is a portfolio company of Natural Gas Partners led by Chris Cooper, Nevin Bannister, Roger Johnson and Matt Thiel. www.oilfieldwaterlogistics.com
About Natural Gas Partners
NGP Natural Resources X, L.P. is the most recent active fund of Natural Gas Partners (NGP). Founded in 1988, NGP is a $10.5 billion family of private equity investment funds organized to make investments in the natural resources sector. NGP is part of the investment platform of NGP Energy Capital Management, a premier investment franchise in the natural resources industry, which together with its affiliates has managed approximately $13 billion in cumulative committed capital since inception. www.naturalgaspartners.com
About NGP Energy Technology Partners
NGP Energy Technology Partners II, L.P., managed by NGP Energy Technology Partners (NGP ETP), invests in companies that provide products and services to the oil and gas, power, environmental, energy efficiency and alternative energy sectors. Founded in 2005, NGP ETP manages approximately $500 million in committed capital and is led by professionals that have extensive experience investing across the energy industry. NGP ETP partners with experienced management teams executing on compelling strategic plans and works with them to drive significant value creation. www.ngpetp.com
SOURCE Oilfield Water Logistics, LLC (OWL)