InstarAGF Asset Management Inc has acquired Oilfield Water Logistics (OWL) alongside its Canadian and international co-investors from NGP Energy Capital Management and NGP Energy Technology Partners and other private shareholders. OWL’s seasoned management team will invest in and continue with the business, which is a leading provider of midstream water infrastructure and services primarily within the Permian Basin.

Founded in 2014, OWL’s growing midstream water infrastructure platform provides essential infrastructure supporting oil production across the midstream water value chain, including produced water gathering, transportation, reuse and disposal primarily in the Delaware Basin, one of the most active and economic oil and gas basins in North America with one of the highest water-to-oil ratios in the United States. OWL provides long-term stability and volume predictability for its exploration and production (“E&P”) customers and is strongly positioned to meet increasing customer demand and to further expand its footprint and service offering.

InstarAGF invests in mid-sized essential infrastructure businesses in North America in the energy, utilities and civil infrastructure sectors, including high quality energy and midstream service providers, aviation infrastructure, district energy, renewable energy, and specialty ports and logistics businesses, among others, and seeks to add value and support growth with an emphasis on best-in-class responsible operations and service.

InstarAGF was advised by Scotiabank and King & Spalding LLP on the transaction. OWL was advised by Morgan Stanley & Co. LLC and Thompson & Knight LLP.