Permian/Powder River basins’ produced-water infrastructure company Oilfield Water Logistics (OWL) has acquired a portfolio of operating assets in New Mexico from an unnamed Permian producer for an undisclosed price.
The deal includes including 23 saltwater disposal wells and 300 miles of water gathering lines, Kallanish Energy reports.
The unnamed seller also entered into a long-term contract with privately-held OWL for water infrastructure services, extending an existing pact while enabling OWL to offer the system to other exploration and production customers.
“This acquisition complements our current operations in the northern Delaware Basin, doubling OWL’s footprint and enhancing our capabilities and long-term value proposition for customers,” said Chris Cooper, chief executive of OWL.
OWL was advised by Scotiabank, Jackson Walker LLP, and King & Spalding LLP. OWL is a portfolio company of North American infrastructure manager InstarAGF Asset Management Inc.
This post appeared first on Kallanish Energy News.