NGP Portfolio Company Oilfield Water Logistics and Boyd & McWilliams Execute Water Gathering and Disposal Agreement
Dallas, Texas, November 21, 2017 /Business Wire/ — Oilfield Water Logistics (“OWL”) and privately-held Midland Basin operator Boyd & McWilliams have executed a long-term produced water gathering and disposal agreement. The mutually beneficial arrangement allows Boyd & McWilliams to direct more capital and operating attention to developing its oil and gas assets and dedicates its unique acreage position in Winkler County to OWL to expand permanent water handling infrastructure in the region.
“On behalf of the OWL team, we appreciate the opportunity work with Boyd & McWilliams and add to our diversified, best-in-class customer list,” says Chris Cooper, CEO. “This agreement is a win-win, allowing them to reduce capex and LOE and focus on oil and providing us the opportunity to expand our midstream water systems.” Toby McWilliams of Boyd & McWilliams agrees, saying, “We need to use our time and money finding and producing oil and gas and leave water disposal to those who do it for a living.”
As an established leader in midstream water gathering and disposal in the Permian with a core Delaware position, this agreement further expands OWL’s existing Midland Basin footprint. OWL is exclusively focused on water infrastructure and services and is backed by private equity firm Natural Gas Partners (“NGP”).
Oilfield Water Logistics, LLC (OWL) provides midstream water infrastructure and services to the energy industry in Texas, New Mexico, Colorado, Utah and Wyoming, with offices in Midland, Denver and Dallas. OWL currently operates 25 saltwater disposal wells and facilities with over 200 miles of high capacity water pipeline, and has over 150,000 dedicated acres from leading operators in the Permian Basin. Through its partnership with NGP and others, OWL continues to expand its water infrastructure network, providing liquidity and reducing capex and overhead for its E&P customers. www.oilfieldwaterlogistics.com
About Boyd & McWilliams
Boyd & McWilliams is a privately held oil and gas exploration and production company in its 39th year of operation with over 70,000 acres and an exclusive focus in the Permian Basin.