Dallas-based fluids management company Goodnight Midstream said it’s acquired for an undisclosed price Wyatt Water Solutions, establishing a presence in the Eagle Ford Shale of South Texas.
With this transaction, Goodnight now offers a network of produced water gathering and disposal systems in the Williston and Permian basins, and the Eagle Ford, Kallanish Energy finds.
Wyatt Water will operate as a wholly-owned subsidiary of Goodnight Midstream and begin operations in Atascosa County, Texas. Eric Leuenberger, founder of Wyatt, joins Goodnight Midstream as vice president of Eagle Ford operations and will remain president of Wyatt Water.
"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, CEO 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."
The acquisition is financed by Goodnight's credit facility, operating cash flows and equity investments from energy-focused private equity firm Tailwater Capital, based in Dallas.