Oilfield Water Logistics (OWL), a Natural Gas Partners (NGP) portfolio company providing fluid management services to the energy industry, has acquired the saltwater disposal (SWD) well and pipeline infrastructure of Midland-based AggieTech Operating LLC.
This acquisition expands OWL's footprint in the Permian Basin, establishes a company office in Midland and signals the company's 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 will join OWL.
With the AggieTech purchase, OWL owns 12 saltwater disposal wells and a network of water pipelines with producer contracts, in addition to significant exclusive surface-use agreements in the Permian Basin.
"The AggieTech acquisition helps us expand OWL's portfolio and our presence in Midland," said OWL CEO Chris Cooper. "Not only does AggieTech bring high quality assets with piped water and existing contracts, but we are also pleased to have their experienced management team join us as we continue to grow OWL in the Permian Basin and beyond."
AggieTech Operating was the saltwater disposal affiliate of Big Bear AggieTech, the largest independent pumping unit service company in the Permian Basin.
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