Oilfield Water Logistics (OWL), a Natural Gas Partners (NGP) portfolio company providing water infrastructure and services to the energy industry, has secured a $250 million untapped credit facility with Texas Capital Bank.
OWL is committed to building permanent oilfield water gathering systems throughout the United States with networks of pipelines and saltwater disposal wells. The new credit facility, coupled with substantial available equity from OWL's investors, puts the company in a position to expand by acquiring, developing, and managing water infrastructure, and enables E&P companies to obtain additional liquidity and reduced water handling costs.
Dallas-based OWL currently has operations in the Permian (Delaware/Midland), Haynesville/Cotton Valley, Powder River, Niobrara, DJ, Uinta and Piceance basins, with 27 oilfield water facilities in operation or development and an extensive network of water pipelines and surface use agreements.
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