Ownership of Oilfield Water Logistics LLC (OWL), a midstream water infrastructure company with a leading position in the Permian Basin, changed hands in late October.
In a joint release on Oct. 28, InstarAGF Asset Management Inc., an alternative asset management firm based in Toronto, Ontario, said it had acquired OWL from affiliates of Natural Gas Partners LP (NGP). The terms of the transaction were not disclosed.
NGP helped form OWL in 2014 to acquire, develop and manage water-related and other oilfield fluids infrastructure and services in the energy industry. The value of NGP’s equity commitment in OWL was not disclosed. OWL had also secured a $250 million credit facility with Texas Capital Bank in January 2015.