WorldOil.com : By RACHEL ADAMS-HEARD on 4/16/2019
HOUSTON (Bloomberg) — Solaris Water Midstream, which handles water supplies and disposal for Marathon Oil, is closing in on a deal with another driller as explorers increasingly outsource one of the key components of fracing.
Backed by private equity investor Trilantic North America, Solaris has “a couple” letters of intent with oil producers in the works and expects to be handling the wastewater needs for another driller in the future, Greg Mullin, the company’s senior vice president of commercial, said at a conference in Fort Worth, Texas.
The Permian basin’s budding water business is only getting bigger as oil producers seek to cash in on infrastructure used to transport water to wells and to dispose of it after it’s been blasted into shale rock with sand and chemicals. Private equity-backed companies like Solaris have been buying the assets from drillers to become their service providers. Read more…