Goodnight Midstream Expands Operations In Texas-New Mexico Permian Basin
Providing professional fluids management services to its oil and gas producing customers, Goodnight Midstream owns and operates an extensive network of water gathering pipelines and saltwater disposal wells focused on gathering and disposing of produced saltwater for oil and gas producers.
The company reported it acquired the produced water gathering and disposal business of Black Mountain Disposal in Glasscock and Reagan Counties, as well as four water disposal facilities formerly operated by MTN Energy strategically located in Andrews, Ector, Gaines and Loving Counties.
"The closing of these acquisitions represents a significant milestone in Goodnight's Permian Basin expansion," said Patrick Walker, CEO. "These facilities allow us to support our customers' growing water handling needs as activity continues to increase. The acquired facilities are connected to extensive networks of both producer owned and existing Goodnight owned gathering systems.”
“ We look forward to expanding our network of water gathering pipelines and saltwater disposal facilities in the years ahead to meet our customers' goals of driving down lease operating costs while increasing safety and reliability," he added.
Rich Rehm, COO said, "As producers accelerate development and expand to larger, more water intensive completions on multi-well pads, they need service providers with redundant, high volume water gathering and disposal capabilities to ensure that their wells keep flowing. Goodnight strives to be the preferred partner in delivering reliability through high quality field personnel, experienced engineering, and a strong balance sheet."
The acquisitions were financed by Goodnight's credit facility, operating cash flows and equity investments from Tailwater Capital, LLC, an energy-focused private equity firm based in Dallas, company officials said.
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