Gravity Oilfield Services, an energy and oilfield infrastructure company backed by affiliates of Clearlake Capital Group, has acquired a certain water disposal infrastructure from MBI Oil & Gas. The acquisition further strengthens Gravity's existing water management solutions in the Bakken region while expanding the company's relationships with the region's most active operators. The transaction enhances Gravity's scale within its permanent water infrastructure offerings in the basin, further building on the company's acquisition of McKenzie Energy Partners in June 2018. Financial terms of the transaction were not disclosed.
“The strategic acquisition of the MBI facilities adds additional scale in the core of a premier oil and gas producing region of the country, while expanding support of our existing customer base and creating important new relationships,” said Rob Rice, CEO of Gravity.