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SOURCE Oilfield Water Logistics, LLC (OWL)
DALLAS, July 14, 2014 /PRNewswire/ -- 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, including Toben Scott, Michael Brandon and Steve Berrones, will join OWL.
With the Aggie Tech 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.
Oilfield Water Logistics, LLC (OWL) provides a complete suite of water services to the energy industry including supply, pipeline transport, reclamation and disposal. OWL is currently active in the Permian Basin and is seeking investment and development expansion opportunities nationwide. OWL is a portfolio company of Natural Gas Partners led by Chris Cooper, Nevin Bannister, Roger Johnson and Matt Thiel.
The company was founded in 2004 as AggieTech Investments, Inc., an independent oil and gas business, by Toben Scott and Mark Bales. AggieTech partnered with Terry Scott in 2005 to form Sweetwater Transfer Services, which was sold to Select Energy Services, LLC in 2011. In 2008, AggieTech entered the pumping unit service business, subsequently partnering with Pumping Unit Resources to sell the Champion brand pumping unit. In December of 2012, the company acquired Big Bear Oilfield Service, Inc. and renamed itself Big Bear AggieTech, and it has since grown into a comprehensive pumping unit sales, service, and machining business, with four yard locations in the Permian Basin and over 140 employees.
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