(Source: Shuttestock.com)
Private equity firms Post Oak Energy Capital and Genesis Park, the backers of Layne Water Midstream, have sold their interests in the company, according to a July 10 press release. The buyer and financial details of the deal weren’t disclosed.
Layne is a private water and infrastructure company, primarily in the Delaware Basin, founded in 2016 by Layne Christensen, according to the company’s web site. In April 2019, Post Oak and Genesis Park, through investment partnerships each company managed separately, provided a $200 million equity commitment to Layne.
Since then, the companies have worked together to grow the water midstream company’s footprint, primarily in the Delaware Basin.
Layne operations include about 200 miles of pipeline and 15 saltwater disposal facilities with a 400,000 bbl/d capacity, according to the company’s website. The company also has several land owner partnerships throughout the northern Midland Basin.
Nomura Greentech acted as financial adviser and Willkie Farr & Gallagher LLP acted as legal counsel to the sellers in connection with the transaction.
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