Four Wood Capital Partners LLC (FWCP) and its subsidiary Four Wood Energy Partners LLC (FWEP) announced Jan. 6 the successfully acquisition of an operated disposal facility in the Williston Basin in North Dakota from Monkota Disposal Inc.
The acquisition of the Morlock Salt Water Disposal #1H closed on Dec. 31, and was completed through SWD Enterprises LLC, a subsidiary of FWEP. Terms of the transaction were not disclosed.
The salt water disposal asset acquired is a state-of-the art ultra-high capacity saltwater disposal well in western North Dakota and serves major E&P players in the heart of the Bakken Shale play.
Morlock is permitted to dispose of up to 20,000 barrels of saltwater per day which is the highest permitted injection capacity in the state of North Dakota. Additionally, the facility has the ability to store up to 12,000 barrels of saltwater on site to reduce waiting times for unloading trucks.
“The acquisition of the Morlock facility provides a central operating platform in the core of the Bakken for us to deliver and readily expand superior disposal capabilities and world-class customer service to the E&P community in one of North America’s most important energy plays at a time when the industry needs it most,” said Jack Sordoni, managing director and head of energy investments at New York-based FWEP.
“Today’s acquisition and closing marks an important milestone for SWD Enterprises and for the Four Wood Capital family of companies. SWD Enterprises is well positioned to acquire additional disposal facilities in the Bakken and other strategic locations as the U.S. oil and gas industry enters a new era,” said Steven A. Baffico, managing partner and CEO of FWCP.
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