Goodnight Midstream Acquires Wyatt Water Solutions

Published: Aug 09 2017
Deal Summary

Goodnight Midstream, LLC, a fluids management company, acquired Wyatt Water Solutions, LLC, a provider of water gathering and disposal systems, located in Atascosa County, Texas, the US.

Goodnight Midstream financed the acquisition through its credit facility, operating cash flows and equity investments from Tailwater Capital, LLC.

The transaction enables Goodnight Midstream to expand its business operations in the Eagle Ford shale, Permian and Williston basins.

Patrick Walker, CEO of Goodnight Midstream, said, "This acquisition is another step in Goodnight's continued commitment to provide midstream produced water solutions in top-tier basins for our operating customers. 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, said, "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 County saltwater 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."

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