Bison, Oklahoma's largest water infrastructure, logistics and solutions provider, on July 12 announced that it has entered into a 15-year water gathering and disposal agreement with a subsidiary of Marathon Oil Corp.
Under the agreement, Bison will exclusively manage all of Marathon's produced water infrastructure within the Sooner State, as well as any future acreage operated by Marathon within a 5.4 million acre dedicated area. The agreement includes activity in the Scoop and Stack shale plays, where Marathon averaged 63,000 net boe/d of production during the first quarter.
"We are excited to expand our relationship with Marathon through this long-term water gathering and disposal agreement,” said Bison CEO North Whipple. “This water infrastructure dedication is the first-of-its-kind in the Scoop, Stack and Merge and is the direct result of Bison's proven ability to partner with customers and materially lower their operating expenses.
“We remain on track to meet or exceed our previously announced expansion plans and this agreement further underpins our development with a world-class upstream operator. Today marks another significant milestone in delivering on our promise to bring scalable and innovative cost-saving water solutions to the market."
For more information regarding the company, visit the website at BisonOK.com or email at Media@BisonOK.com.
Recommended Reading
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
Oxy’s Hollub Drills Down on CrownRock Deal, More M&A, Net-zero Oil
2024-11-01 - Vicki Hollub is leading Occidental Petroleum through the M&A wave while pioneering oil and gas in EOR and DAC towards the goal of net-zero oil.
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
Record NGL Volumes Earn Targa $1.07B in Profits in 3Q
2024-11-06 - Targa Resources reported record NGL transportation and fractionation volumes in the Permian Basin, where associated natural gas production continues to rise.
Mexico Pacific Working with Financial Advisers to Secure Saguaro LNG I FID
2024-10-23 - Mexico Pacific is working with MUFG, Santander and JP Morgan to arrange the financing needed to support FID and the anchor phase of Saguaro Energía LNG.