Goodnight Midstream lands $500 million to expand oil field water operations

Dallas pipeline operator Goodnight Midstream has landed a $ 500 million private equity fund to expand the company's oilworks business.

Tail Water Capital, a Dallas-based private equity firm, has invested over $ 500 million for Goodnight Midstream to expand its business.

Focusing on freshwater and oilfield wastewater movement, Goodnight works in Bakken Shale, North Dakota, Permian Basin, West Texas, and Eagle Ford Shale, South Texas.

Goodnight Midstream co-founder and CEO said, "With this capital flexibility, we will continue to focus on providing customers with a growing demand for scalable water infrastructure solutions and providing safe, reliable and environmentally sustainable water logistics services. . " Patrick Walker said in a statement.

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The $ 500 million investment is made when oilfield wastewater, known as industry-produced or seawater, is transferred to the treatment plant through pipelines rather than 18-wheelers.

As Edward Herring, co-founder and managing partner of Tailwater Capital, says the Tailwater co-founder and management partner, “The Tailwater team is confident in Goodnight's industry leadership and continued success. In the statement.

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Founded in 2011, Goodnight Midstream operates hundreds of miles of produced water pipes and dozens of saltwater treatment wells in North Dakota Barken Shale, West Texas Perm Basin and South Texas Eagle Ford Shale.

The company will recently run two pipeline systems in the Permian Basin to transfer 600,000 barrels of wastewater from oil and natural gas wells to the dump site.

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