[Context: On August 9, Tailwater Energy-backed Goodnight Midstream announced the acquisition of Eagle Ford-focused Wyatt Water Solutions. Further details and related links are below.]
Goodnight Midstream Expands Into Eagle Ford With Acquisition Of Wyatt Water Solutions
DALLAS, Aug. 9, 2017 /PRNewswire/ — Goodnight Midstream, the professional fluids management company, announces the acquisition of Wyatt Water Solutions, LLC and establishes a footprint in the Eagle Ford shale of South Texas. With this transaction, Goodnight now offers an extensive network of reliable produced water gathering and disposal systems in three of the country’s most active oil plays, the Williston Basin, the Permian Basin, and the Eagle Ford shale.
Wyatt Water Solutions, LLC will operate as a wholly owned subsidiary of Goodnight Midstream and begin operations in Atascosa County, Texas. Eric Leuenberger, founder of Wyatt Water Solutions, joins the Goodnight Midstream team as Vice President of Eagle Ford Operations and will remain President of Wyatt Water Solutions, LLC. Mr. Leuenberger, a Petroleum Engineer, brings over 17 years of operational experience in multiple basins across the United States, both unconventional and conventional, with a primary focus on South Texas. Most notably, Leuenberger developed Eagle Ford assets in Atascosa, Live Oak and Karnes counties as Operations Manager for Cinco Resources Inc.
“This acquisition is another step in Goodnight’s continued commitment to provide midstream produced water solutions in top-tier basins for our operating customers,” said Patrick Walker, Chief Executive Officer of Goodnight Midstream. “Our combination with Wyatt Water Solutions capitalizes on Goodnight’s substantial experience building and operating saltwater gathering systems and facilities while strategically providing known customer commitments and expanding our footprint into the Eagle Ford shale.”
Eric Leuenberger, President of Wyatt Water Solutions, LLC commented, “I am excited to join the Goodnight Midstream team. Goodnight brings a wealth of resources, experience and an outstanding commitment to excellence and execution. Based on my experience managing production in the area, I understand the importance of reliable saltwater services in the Eagle Ford. The Atascosa County saltwater disposal system will provide the flexibility and optionality of an integrated, reliable solution that our customers demand as they work to drive down lease operating costs in the field.”
The acquisition is 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.
About Goodnight Midstream
Goodnight Midstream provides trusted professional fluids management services to its oil and gas producing customers. The Company 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. Goodnight’s midstream approach minimizes environmental impact and improves health and safety while lowering lease operating expense and improving reliability for its customers. Goodnight is supported by a team of highly experienced engineers and operating professionals. In addition to Goodnight’s leading position in North Dakota, Goodnight is rapidly expanding in the Permian Basin of Texas and New Mexico.