MIDLAND, Texas & HOUSTON & DALLAS–(BUSINESS WIRE)–On April 4, 2022, Martin Water Midstream, LLC and its affiliates (“MWM” or the “Company”), a private water midstream operator with offices in Midland, Houston and Dallas, Texas, has closed on the acquisition of the Richards Ranch, approximately 1,180 acres of land, across two sections in Martin County.
“The acquisition of the Richards Ranch: (i) solidifies MWM’s position as a landowner in Martin County; (ii) clearly differentiates us from other competitors; (iii) strengthens our operational footprint with prime surface acreage centrally located to active oil and gas development; and (iv) exemplifies our stated intention and business strategy to manage water midstream assets on property owned both by MWM and partner landowners,” said Matthew Morgan, Co-Chief Executive Officer of MWM.
MWM has focused operations in Martin County and provides tailored services and innovative solutions to upstream oil and gas companies (“E&P Operators”) through a robust water grid, including: (i) fixed pipe infrastructure, gathering and transporting produced water (“PW”) from the wellsite to multiple recycling facilities; (ii) treating the PW with an industry-leading partner with a proven recycling technology; and (iii) reselling the treated PW to E&P Operators for reuse with subsequent oil and gas drilling needs. While remaining focused on providing reliable flow assurance and efficiencies to its customers, MWM is committed to maximizing the hydrological cycle of every barrel of water, while upholding the highest environmental, social and governance (“ESG”) standards.
The MWM management team is led by Co-CEOs Matthew Morgan and Stephen Johnson and has, collectively, over 100 years of experience, both in water management and in operations for E&P Operators. Previously, Mr. Morgan founded a PW mobile recycling company, and Mr. Johnson founded and was CEO and Vice Chairman of WaterBridge Resources, a water management company backed by Five Point Energy. The MWM management team’s track record of success has fostered the technical prowess to understand the PW needs of its customers and the capability to respond to global energy trends.
MWM’s water midstream business will be anchored by over 27,000 acres of surface use agreements (“SUA”) and include: (i) a 16” diameter trunkline gathering pipeline system with a capacity to transport 400,000 Bbl/d of PW; (ii) recycling facilities each with a capacity to treat and recycle 150,000 Bbl/d of PW; (iii) pond storage each with a permitted capacity to hold 1,500,000 Bbl; and (iv) connection agreements with established saltwater disposal operators to dispose of overflow PW volumes. In order to commercialize these water midstream assets, MWM has already begun discussions and is negotiating long-term PW contracts with E&P Operators.
Jackson Walker LLP acted as legal advisor to MWM.
About Martin Water Midstream, LLC
Martin Water Midstream, LLC is a private water midstream operator with offices in Midland, Houston and Dallas, Texas. Led by Matthew Morgan (Co-CEO) and Stephen Johnson (Co-CEO), the other key MWM management team members include David Malkowski (CFO), Stephen Claybourn (SVP-Construction/Operations), Trace Maurin (VP of Land) and Ty Froman (Director of Business Development).
For more information, visit https://www.martinwatermidstream.com/.
Contacts
For Martin Water Midstream, LLC contacts:
Matthew Morgan (Co-CEO): matthew@martinwatermidstream.com
Stephen Johnson (Co-CEO): steve@martinwatermidstream.com
David Malkowski (CFO): david@martinwatermidstream.com
Stephen Claybourn (SVP-Construction/Operations): stephen@martinwatermidstream.com
Trace Maurin (VP of Land): trace@martinwatermidstream.com
Ty Froman (Director of Business Development): ty@martinwatermidstream.com
