“Oilfield Water Logistics buys saltwater disposal business”
Natural Gas Partners-backed Oilfield Water Logistics LLC, known as OWL, said Monday, July 14, it bought the saltwater disposal well and pipeline infrastructure of Midland, Texas-based AggieTech Operating LLC for an undisclosed sum. Dallas-based OWL said the acquisition expands its footprint in the Permian Basin, establishes a company office in Midland and signals its commitment to growth through acquisition. The transaction adds eight saltwater disposal wells and a network of water pipelines with producer contracts to OWL’s assets. AggieTech’s water management team, including Toben Scott, Michael Brandon and Steve Berrones, will join OWL. OWL now owns 12 saltwater disposal wells along with water pipelines with producer contracts and exclusive surface-use agreements in the Permian. AggieTech Operating was the saltwater disposal affiliate of Big Bear AggieTech, the largest independent pumping unit service company in the Permian. Holt Foster at Thompson & Knight LLP counseled OWL while Will Krueger of Lynch Chappell & Alsup PC assisted the seller.