
(Source: Lagoon Water Midstream)
Oklahoma’s Bison Water Midstream said Dec. 5 it acquired all of the Oklahoma assets owned by Lagoon Water Midstream, as well as the water infrastructure owned by Overflow Energy LCC in the STACK.
The Oklahoma City company, which bills itself as the state’s largest water infrastructure and logistics provider, did not provide financial details for its transactions.
“These transformational acquisitions…roughly double the size of Bison's existing footprint across the region,” North Whipple, CEO of Bison, said in a news release.
Lagoon’s website says it is in the heart of the STACK play with a core facility capable of treating 40,000 bbl/d of water. Its assets also include 1.2 MMbbl of storage capacity in addition to 21 owned and operated saltwater disposal sites, strategically located in Oklahoma.
Overflow Energy, founded in 2007, said it is become a leader in the oil and gas industry in the Texas Panhandle and Northwestern Oklahoma. The company owns and operates more than 50 saltwater facilities. The company recently expanded in the Permian Basin along with facilities in the SCOOP/ STACK.
The Lagoon transaction is effective Nov. 1, 2022, and the Overflow deal on Dec. 1, 2022. Following these acquisitions, Bison is the only remaining large-scale commercial water infrastructure provider serving the SCOOP, STACK and MERGE plays within Oklahoma's Anadarko Basin.
Bison's integrated water infrastructure platform now comprises:
• 750-mile water gathering system;
• 60 disposal facilities with permitted capacity of 1.2 MMbbl/d of water;
• 5.7 MMbbl of storage capacity; and
• 100,000 bbl/d of recycling/reuse capacity.
Bison holds more than more than 20 long-term contracts covering an area of mutual interest across the 17 million dedicated acres within the Anadarko.
During the past four years, Oklahoma's water midstream industry has experienced the full cycle of emergence, expansion, maturation and now consolidation, Whipple said.
“Together, our companies have demonstrated the overwhelmingly positive benefits of delivering safe, low-cost, reliable and emissions-reducing water solutions at scale,” he said. “In Oklahoma alone, we have collectively prevented over 200 MMbbl of water from being trucked, preserved 30 MMbbl of freshwater from industrial use and reduced the carbon footprint of the supply chain by more than 50,000 metric tons of carbon – all while reducing our customers' water costs by 30-50% on average.”
Bison said it will continue to work with new and existing customers to increase adoption of sustainable and environmentally responsible water management practices. That includes recycling more produced water, exploring beneficial reuse opportunities, leveraging shared water infrastructure and embracing new water technologies as they emerge.
“These solutions will help operators reduce their carbon footprint, save local freshwater, improve road safety, advance a multitude of ESG initiatives and increase the overall positive impact our industry can have on people and communities across Oklahoma,” Whipple said.
Recommended Reading
Baytex Brings Production Back Online Following Wildfires
2023-05-30 - Baytex Energy estimated that approximately 12,500 boe/d was curtailed for the month of May.
OTC: Brazil Targets 5 MMbbl/d Production by 2030
2023-05-02 - Brazil’s oil regulator ANP wants the country to increase oil production from 3.3 MMbbl/d to 5 MMbbl/d by 2030, the agency General Director Rodolfo Henrique de Saboia said at OTC.
OTC: Latin America: The New Frontier for Oil and Gas
2023-05-04 - Greater investments in the exploration of frontier basins looks to be the key to meeting global energy demand.
BP Ventures Back Into Oil Frontiers to Boost Output
2023-05-10 - BP has started drilling a wildcat well off Canada's coast and revived the development of a Gulf of Mexico reservoir.
Drilling Underway for Deep Earth Well in China
2023-05-08 - Sinopec’s well has a depth of 9,472 m, which makes it the deepest oil and gas well in Asia.