Gravity Oilfield Services announced in March that it had acquired water disposal infrastructure in North Dakota from MBI Oil & Gas.
The purchase gives Gravity an opportunity to leverage its existing water infrastructure in the Bakken and “provide comprehensive water management solutions that lower lease operating expense and improve reliability for customers,” said Rob Rice, Gravity CEO.
The latest acquisition enhances the company’s scale for providing permanent water infrastructure in the Bakken following its purchase of McKenzie Energy Partners in June 2018.
The acquisition was backed by Clearlake Capital Group, a private investment firm, and represents “an excellent fit with Gravity’s existing water infrastructure in the Bakken and accelerates the company’s transformation into a leading water midstream platform,” declared Jose Feliciano, co-founder and managing partner at Clearlake.
Gravity is an onshore energy services company that provides water midstream, power generation and other services in the Permian, Bakken, Eagle Ford, SCOOP/STACK, DJ, Haynesville and Marcellus plays.