Gravity, a growth-oriented water and power infrastructure company backed by affiliates of Clearlake Capital Group, L.P., announced in late June it had signed a multi-year minimum volume commitment produced water gathering agreement with an independent producer in the Midland Basin.
Gravity owns and manages more than 50 active saltwater disposal wells with more than 1.5 million barrels per day of permitted disposal capacity. Prior to this expansion, Gravity added four new saltwater disposal wells since 2021, and over 100,000 barrels of gathering and disposal capacity to its core 500,000+ barrel total capacity Midland Basin water infrastructure system. With the addition of its water reuse services, Gravity provided its customers with over 78 million barrels of midstream sourcing, reuse, gathering, and disposal water solutions from January through May 2022.
“Gravity Water Midstream continues to focus on providing reliable and cost-effective produced water gathering, disposal, and reuse infrastructure for our customers, while aligning with ESG best practices,” stated Trace Hight, Chief Commercial Officer of Gravity Water Midstream. “This new contract bolsters our market position in the Midland Basin, particularly our gathering and disposal supersystem with over 500,000 barrel capacity in the core production areas in Howard County.”
“Gravity continues to organically grow its integrated water midstream business, and this new agreement is representative of the continued demand for increased produced water services to match the production development in the Permian Basin in an environmentally conscious way,” said José E. Feliciano, Chairman of Gravity and Co-Founder and Managing Partner of Clearlake, and Colin Leonard, Partner and Managing Director of Clearlake.
