Dallas-based private equity firm Tailwater Capital has committed more than $500 million for Goodnight Midstream to expand its oil field water operations. Goodnight Midstream is active in Bakken Shale of North Dakota, the Permian Basin of West Texas and Eagle Ford Shale of South Texas on moving produced water or saltwater and oilfield wastewater.
"With this capital flexibility, we will continue to meet the increasing demand from our customers for scalable produced water infrastructure solutions and remain focused on providing safe, reliable and environmentally sustainable produced water logistics services to our customers," Goodnight Midstream Co-Founder and CEO Patrick Walker said in a statement.
"With favorable market dynamics driving further investment in the produced water midstream sector, and the company's numerous customer contract wins, our team at Tailwater has strong conviction in Goodnight's industry leadership and continued success," Tailwater Capital Co-Founder and Managing Partners Edward Herring said in a statement.
Dozens of saltwater disposal wells and hundreds of miles of produced water pipelines are operated by Goodnight Midstream in the Bakken Shale of North Dakota, the Permian Basin of West Texas and Eagle Ford Shale of South Texas. Two pipeline systems were put into service recently in the Permian Basin that will move 600,000 barrels of wastewater from oil and natural gas wells to disposal sites.