Oilfield Water Logistics Acquires New Mexico Water Gathering Assets from EOG

Updated 1 year 6 months ago

Oilfield Water Logistics (OWL) has acquired a portfolio of assets from a "major Permian Basin oil producer" including 23 saltwater disposal wells and 300 miles of water gathering pipelines. The seller entered into a long-term contract with OWL, allowing OWL to pursue additional customers. The financial terms of the transaction were not disclosed. Scotiabank served as financial advisor to OWL. EOG was confirmed as the buyer by the Houston Chronicle. The company inherited the facilities with the acquisition of Yates Petroleum in 2016.