Solaris Midstream Holdings Subsidiary, Solaris Water Midstream, Announces Merger with Water Midstream Partners
Solaris Midstream Holdings, LLC (“Solaris Midstream”) announced today that it has closed a transaction to merge the operations of Water Midstream Partners LLC (“WMP”), into Solaris Water Midstream, LLC (“Solaris Water”), a subsidiary of Solaris Midstream. Founded in 2013 and based in Dallas, WMP provides water midstream services to producers working in the Midland Basin of West Texas. Following the transaction, Solaris Water will provide water gathering and disposal services to more than 20 E&P operators who have dedicated approximately 50,000 acres to Solaris Water’s assets.
WMP’s current president, B.G. Clark, will become the chief operating officer of Solaris Water and will oversee day-to-day operations. Mr. Clark has more than 25 years of experience in the development and management of water infrastructure assets. He is a native of the Permian Basin and grew up in a family that owned and operated an oilfield service business. Over the past eight years, Mr. Clark has overseen the development and operations of more than 120 miles of commercial saltwater pipeline systems connected to networks of multiple saltwater disposal wells (“SWDs”). He has hands-on experience in all facets of planning, permitting, designing, constructing and operating commercial saltwater gathering and disposal assets, as well as freshwater supply and distribution systems with experience in most major U.S. oil and gas basins.
The WMP assets include more than 35 miles of commercial saltwater gathering pipelines serving multiple producers in Midland, Howard, Martin and Dawson counties. The gathering systems are connected to multiple SWDs, including two WMP-operated SWDs. Prior to the merger, Solaris Water began developing a saltwater gathering and disposal system in Midland County, including a high-capacity SWD in the Ellenburger formation. Solaris Water’s Midland County system will be connected to WMP’s Midland County system, creating a system with 100,000 barrels per day of disposal capacity. The combined systems will be known as the Solaris North Midland County Saltwater Disposal System.
Solaris Water has over 200 miles of commercial saltwater gathering pipelines under development throughout the Midland and Delaware basins, including planned expansion of the WMP systems.
“B.G. Clark and his team have built a tremendous set of water-handling infrastructure assets in some of the most active areas of the Midland Basin,” said Solaris Midstream Chief Executive Officer Bill Zartler. “We are excited to welcome the WMP team to the Solaris family. Both teams share a common vision and culture of excellence in execution and customer service. Our goal is to be the leading water midstream company in the Permian Basin and beyond by owning and operating high-capacity networks of saltwater pipelines and disposal wells and providing safe, reliable and environmentally responsible services.”
“We are proud of the business we have built under the WMP banner, and our team is excited about joining Solaris Midstream. We believe this transaction brings together two teams with deep operational and commercial expertise to create a premier water midstream company,” B.G. Clark said.
About Solaris Midstream Holdings, LLC
Solaris Midstream is an independent, growth-oriented midstream company based in Houston and Midland, Texas. Solaris Midstream owns, operates and designs crucial midstream assets across key unconventional U.S. basins. Solaris is initially focused on developing cost-effective, efficient and reliable water-specific midstream solutions. For more information about Solaris Midstream please visit www.solarismidstream.com.
Dec 12, 2016