Lagoon Water Solutions Holdings, LLC has announced an agreement for Macquarie Infrastructure Partners (MIP) to invest in Lagoon to fund the ongoing growth of the company.
Lagoon Water Solutions is an Oklahoma City-based company providing produced water solutions to oil and gas producers in the Anadarko Basin. The company works with producers to reduce their operating costs through investing in, constructing, and operating reliable and efficient water midstream infrastructure. MIP, which operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group, will make the investment through one of its managed funds.
In partnering with Lagoon, MIP has committed a total investment of up to US$500 million to support additional growth in the STACK, SCOOP and other basins. Initial investment capital will focus on the expansion of Lagoon’s current assets to support existing long-term contracts secured with Anadarko Basin producers covering more than 200,000 acres.
Following this expansion to serve these producers as well as other customers, Lagoon will have more than 350,000 barrels of water per day of disposal capacity across 17 facilities and over 150 miles of water gathering pipeline by the end of 2018. Lagoon also owns and operates a fleet of water hauling trucks that exclusively provide transition and reliability support to its customers during infrastructure buildout.