OWL closes $250M credit facility to expand oilfield water infrastructure and services

Oilfield Water Logistics (OWL), a Natural Gas Partners (NGP) portfolio company providing water infrastructure and services to the energy industry, has secured a $250 million untapped credit facility with Texas Capital Bank.

OWL is committed to building permanent oilfield water gathering systems throughout the United States with networks of pipelines and saltwater disposal wells.

“This challenging oilfield environment is creating opportunities for OWL to accelerate our growth plans and at the same time provide fresh capital and other solutions to producers who want to streamline their businesses,” said Chris Cooper, CEO of OWL.

OWL currently has operations in the Permian (Delaware/Midland), Haynesville/Cotton Valley, Powder River, Niobrara, DJ, Uinta and Piceance basins, with 27 oilfield water facilities in operation or development and an extensive network of water pipelines and surface use agreements.

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