Gravity Oilfield Services Acquires McKenzie Energy Partners, LLC
Gravity Continues Water Infrastructure Expansion in the Bakken
MIDLAND, Texas, June 21, 2018 /PRNewswire/ -- Gravity Oilfield Services Inc. ("Gravity'), a leading water midstream and oilfield infrastructure company backed by affiliates of Clearlake Capital Group, L.P. ("Clearlake'), today announced it has acquired McKenzie Energy Partners, LLC ("McKenzie"). McKenzie provides reliable, contracted midstream based water management solutions for some of the most active operators in the Bakken through a network of produced water gathering pipelines and water disposal wells situated on core acreage dedications. Financial terms of the transaction were not disclosed.
"We are excited about this important transaction and the strategic fit between McKenzie and Gravity," said José E. Feliciano, Co-Founder and Managing Partner of Clearlake, and Colin Leonard, Partner of Clearlake. "This transaction is evidence of our strategic focus on growing Gravity into a leading water midstream platform with critical assets in key plays like the Permian and the Bakken. Gravity is well on its way to developing a comprehensive water solution platform for oil and gas operators during a time of critical change in the broader energy ecosystem."
"We are excited to continue the expansion of our water management capabilities through the strategic acquisition of McKenzie," said Philip Wright, Executive Vice President of Gravity. "The addition of Jeff Kummer and the McKenzie team will enhance our execution capabilities in both the Bakken and Permian, and we are excited to have them join our team."
Jeff Kummer, President of McKenzie, added, "We are aligned with Gravity on our water midstream strategy, and believe the new partnership will be of great value to Bakken operators. We look forward to partnering with Gravity to execute on our compelling growth plan."
For Gravity Heather Heacock, (281) 640-3043 Marketing Communication Manager Heather.firstname.lastname@example.org
For Clearlake Owen Blicksilver Public Relations, Inc. Kristin Celauro, 732-433-5200 email@example.com Jennifer Hurson, 845-507-0571 firstname.lastname@example.org