InstarAGF acquires Oilfield Water Logistics
Summary
OWL’s seasoned management team will invest in and continue with the business, which is a leading provider of midstream water infrastructure and services primarily within the Permian Basin. “E&P companies increasingly face operational and logistical challenges related to produced water,” said Jonathan Stone, Partner, InstarAGF. “We are delighted to partner with OWL to address North America’s growing water management demands through safe, sustainable solutions. This is a unique opportunity to invest alongside a proven, strongly aligned management team to execute the next phase of OWL’s growth strategy.” “Within North America’s highest growth production areas, OWL plays a vital role transporting and disposing of the significant water volume created,” said Chris Cooper, President and Chief Executive Officer of OWL. “InstarAGF shares our commitment to safety, quality, sustainability and customer service, and is the ideal partner to help elevate and expand our platform, support North American producers and maintain best practices within the energy sector.” InstarAGF was advised by Scotiabank and King & Spalding LLP on the transaction.