OWL Acquires GP II Saltwater Disposal Wells, Expands Presence in Permian Basin
DALLAS, Oct. 10, 2014 /PRNewswire/ -- Oilfield Water Logistics (OWL), a Natural Gas Partners (NGP) portfolio company providing water services to the energy industry, has acquired the saltwater disposal wells (SWD) and producer contracts of GP II Energy, Inc.
The transaction adds three strategically located saltwater disposal wells and significant piped water volumes to OWL's assets. The three wells, Oasis SWD, Keystone SWD and Topeka SWD, expand OWL's footprint in the Permian Basin, establishing its presence in Winkler and Reeves counties and reinforcing its commitment to creating a reliable water infrastructure network.
"GP II was a strategic acquisition for us, as we continue to expand our piped water infrastructure portfolio across Texas, New Mexico and beyond," said OWL CEO Chris Cooper.
With the GP II purchase, OWL owns 16 saltwater disposal wells and a network of water pipelines with producer contracts, in addition to significant exclusive surface-use agreements in the Permian Basin.
About OWL
Oilfield Water Logistics, LLC (OWL) is a water infrastructure company providing services to the energy industry including supply, pipeline transport, reclamation and disposal. OWL is active in the central and western United States 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.
SOURCE Oilfield Water Logistics (OWL)
Share this article