Aqua Terra Water Management LP announced Dec. 9 the acquisition of three saltwater disposal facilities operated by Superior Disposal Services LLC. Terms of the acquisition were not disclosed.
The three acquired facilities, which in the aggregate consist of five wells licensed for commercial disposal, are located in the Midland Basin in west Texas in Glasscock and Upton counties. All three facilities serve E&P customers producing in the Spraberry and Wolfcamp formations.
“The acquisition of the three facilities previously operated by Superior is consistent with our stated goal of increasing Aqua Terra’s presence in the Midland Basin,” said Scott Perekslis, managing partner and co-founder of New York-based private investment firm Bregal Partners, which formed Aqua Terra in November 2013. “Together with the assets recently acquired from Texas SWD Co. Inc, the company now operates five high volume commercial disposal facilities in the Midland Basin and is a growing presence in west Texas.”
Dechert LLP was legal adviser to Aqua Terra and Deerpath Capital Management LP provided financing for the acquisition.
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