WaterBridge continues oilfield M&A ahead of IPO
Published October 12th, 2017
Oilfield water services firm WaterBridge Resources has announced its second acquisition this year, as it bulks up in preparation for an initial public offering within the next 18 months.
The acquisition of Arkoma Water Resources this week expands WaterBridge’s footprint into Oklahoma – where Arkoma owns 110 miles of produced water pipeline and saltwater disposal assets – and follows the acquisition of EnWater Solutions in August.
John Durand, president and COO at WaterBridge, explained to GWI that the firm is pursuing an aggressive M&A strategy ahead of being taken public by its private equity backer Five Point Capital Partners, which recently increased its equity commitment to the company to $500 million.
In pursuing an IPO, WaterBridge is not the only oilfield water specialist to capitalise on renewed onshore oil & gas activity in North America – this week Aqua Terra filed for an IPO in Canada to support its growth strategy.