One-Page Deal Sheet
PE-Backed Gravity to Aquire Midland Water Co. On Point Oilfield Holdings
Gravity Oilfield Services Inc. On Point Oilfield Operations LLC, White Deer Energy
Announced Date
November 06,2019
Transaction Type
Corporate
Transaction Details: Require Private Equity Subscription
Gravity (who is backed by affiliates of Clearlake Capital Group) has inked a deal to acquire On Point Oilfield Holdings, LLC from White Deer Energy.
Transaction terms were not disclosed.
On Point is a contracted produced water midstream company focused on gathering and disposal operations in the Midland Basin. Gravity's acquisition of On Point will create the largest commercial produced water disposal company by injection volumes in the Midland Basin.
On Point's water infrastructure asset base adds 17 new saltwater disposal wells and more than 432,500 barrels per day of permitted disposal…
Permian - Midland Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| May-25-2022 |
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| Jan-22-2022 |
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| Oct-03-2019 |
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| Dec-18-2018 |
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| Oct-02-2017 |
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