Houston, TX /PRNewswire/ - Pilot Water Solutions LLC ("PWS") is pleased to announce the acquisition of Felix Water, LLC ("Felix Water"), complementing PWS' premier national water midstream footprint and creating one of the largest water midstream companies in the United States. This acquisition will add a substantial water midstream footprint in the Delaware Basin to PWS' premier asset base.
"We are delighted to finalize the acquisition of Felix Water, as it significantly strengthens our ability to provide environmentally safe and sustainable solutions to valued customers," stated Anuj Sharma, CEO of PWS. "With the backing of Pilot Company, PWS is a differentiated player in the industry with a strong balance sheet and a focus on long term, sustainable growth. This acquisition is consistent with our mandate to service our customers through full field development as the most stable, long-term operator in the most economic basins of the United States."
Through this acquisition, PWS will cement its position as one of the largest disposal operators in the Texas Delaware Basin adding the following:
- Over 1,000 undeveloped, premium drilling locations operated by premier, blue-chip producer counterparties
- 23 disposal wells
- 210 miles of produced water pipeline
- >500,000 Bw/d of disposal
"This acquisition is a key piece of our long-term strategy and growth in saltwater disposal and transportation," said John Tully, vice president of strategy and business development at Pilot Company. "Felix Water's infrastructure will complement existing business lines with fresh water and recycled water delivery systems to serve the needs of our upstream customers."
Pro Forma, PWS has a nationwide footprint of 82 saltwater disposal wells, over 350 miles of produced water pipelines, more than 300 vacuum trucks, 1.7 million barrels of water per day of disposal capacity, and 16 source water wells across the Permian, Eagle Ford, Marcellus, Utica and Haynesville.
In the acquisition, Wells Fargo Securities, LLC acted as exclusive financial advisor representing PWS. Jefferies LLC acted as exclusive financial advisor representing Felix Water.
About Pilot Water Solutions
Pilot Water Solutions (PWS), a majority-owned subsidiary of Pilot Company, is one of the largest midstream saltwater disposal and transportation companies in the country with operations in the Appalachian, East Texas, Western Gulf and Permian Basins.
About Pilot Company
Pilot Company keeps North America's drivers moving as one of the leading suppliers of fuel and the largest operator of travel centers. Founded in 1958 and headquartered in Knoxville, Tennessee, Pilot Company supplies more than 11 billion gallons of fuel per year. With more than 1,000 retail and fueling locations across both the Pilot Flying J Travel Center network and the One9Fuel Network, Pilot Company makes road travel easier with a variety of products, amenities and services. The Pilot Flying J Travel Center network includes over 750 locations in 44 states and five Canadian provinces with more than 680 restaurants, 74,000 truck parking spaces, 5,300 deluxe showers, 6,200 diesel lanes and provides truck maintenance and tire service through Southern Tire Mart at Pilot Flying J. The One9 Fuel Network connects a variety of fuel stops to provide value, convenience and perks to fleets and professional drivers at more than 240 locations across the United States. Pilot Company's energy division supplies fuel, DEF, bio and renewables and provides hauling and disposal services as the third largest tanker fleet in North America.
Pilot Company is currently ranked No. 10 on Forbes' list of America's Largest Private Companies. More information on locations and amenities are available on the Pilot Flying J app. For additional information about Pilot Company and its commitment to team members and giving back, visit www.pilotcompany.com.