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Friday, 08/10/2018 11:34:07 AM

Friday, August 10, 2018 11:34:07 AM

Post# of 816
$BWTX: Thats a Fake Ask-Wall at $0.035

$BWTX should be reporting a really good financial update for
2017 business and forward business.

Bakken activity just got a major boost this year.

For sure, BWTX got a nice chunk of that action.

Here is more positive news in the field.... Water Companies in the
Oil Services are getting bought out.

Don't be surprised if $BWTX gets bought out as well.


Gravity oilfield services acquires Bakken water management firm
By Luke Geiver | June 26, 2018

Gravity Oilfield Services provides water management solutions along with power supply, rental and wellbore services. <br><small>PHOTO: GRAVITY OILFIELD SERVICES</small>
Gravity Oilfield Services provides water management solutions along with power supply, rental and wellbore services.
Texas-based Gravity Oilfield Services, a water midstream and oilfield infrastructure company, has acquired a Bakken water solutions provider. Backed by Clearlake Capital Group, Gravity has acquired McKenzie Energy Partners. The Bakken firm operates a network of produced water gathering pipelines and water disposal wells within the core of the Bakken.

“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,” said Jose Feliciano, managing partner of Clearlake. “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,” he said.

In April, Gravity formed a multi-year water sourcing agreement with a major operator in the Permian. This month, Gravity announced another agreement in the Permian that will utilize two saltwater disposal wells. The company also has operations in the Eagle Ford, SCOOP/STACK, Marcellus and the Bakken.

Jeff Kummer, president of McKenzie Energy Partners, and an industry veteran that has helped to lead multiple major Bakken service operations, believes the new arrangement will be of great value to Bakken operators. In addition to water midstream services, Gravity also provides power supply and rental services and wellbore offerings.

Philip Wright, executive vice president of Gravity, said the addition of Kummer and the McKenzie Energy team will help Gravity expand in both the Bakken and the Permian.

Terms of the acquistion were not disclosed.