Goodnight Midstream acquires Wyatt Water Solutions
Acquisition signals expansion into Eagle Ford area.
DALLAS, AUG 10, 2017 -- 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 watergathering 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 Countysaltwater 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. For more information, please visit www.goodnightmidstream.com.