Cypress acquires Bakken saltwater disposal facility

Cypress Energy Partners LP

Cypress Energy Partners LP (NYSE:CELP) has acquired a saltwater disposal facility from an affiliate of its North Dakota partner SBG Energy Services LLC (SBG) for a total cost of $2.6 million in cash.

The new facility is located in McKenzie County in North Dakota and is designed to accept both produced water for the life of the oil and gas wells connected to the gathering system, as well as trucked produced and flowback water from surrounding wells.

The acquisition, which includes a minimum volume guarantee and a long-term contract for piped produced water delivery from a publicly traded major E&P customer, expands CELP’s footprint in the Bakken shale play. The facility is connected to a 26-mile produced water gathering system/pipeline that SBG developed.

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