Gravity Oilfield Services Inc., backed by affiliates of Clearlake Capital Group LP, recently acquired certain water disposal infrastructure from MBI Oil & Gas LLC. The acquisition further strengthens Gravity’s existing water management solutions in the Bakken while expanding the company’s relationships with the region’s most active operators. The transaction enhances Gravity’s scale within its permanent water infrastructure offerings in the basin, further building on the company’s acquisition of McKenzie Energy Partners in June 2018. Financial terms of the transaction were not disclosed.
“The strategic acquisition of the MBI facilities adds additional scale in the core of a premier oil and gas producing region of the country, while expanding support of our existing customer base and creating important new relationships,” said Rob Rice, CEO of Gravity. “We are excited to leverage these new locations as we continue to execute on our compelling growth plan within our water infrastructure development platform. Gravity is committed to providing comprehensive water management solutions that lower lease operating expense and improve reliability for customers.”
For more information, visit www. gvty.com or call (833) 234-GVTY .