Oklahoma City-based Bison annonces new acquisitions to boost services across Anadarko Basin
Oklahoma's Bison is on the move.
The Oklahoma City-based company, which delivers water services to oil and gas producers, announced Monday it has made additional acquisitions.
A release issued by Bison reports it spent an undisclosed amount to acquire Cobalt Environmental Solutions, which provides water disposal services in the SCOOP and Merge plays of Oklahoma’s Anadarko Basin.
It anticipates all Cobalt employees will remain with the company, including CEO Patrick Brandt and Chief Operating Officer Jonathan Hood, who will take on leadership roles in Bison’s water infrastructure division.
Bison said its acquisition of Cobalt follows another acquisition it made in the first quarter of this year, when it bought the Oklahoma division of Big Star Trucking, a company that provides water hauling services in the state, plus certain existing and pending saltwater disposal permits owned by Vista Disposal Solutions.
After those deals, Bison officials stated the company owns and operates more than 30 commercial water disposal facilities with a capacity of more than 500,000 barrels per day, along with 300,000 barrels per day of additional permitted capacity and over 400,000 barrels per day of pending capacity.
In total, Bison officials they expect the company to have more than 1.2 million barrels per day of permitted disposal capacity within the coming months, adding they anticipate that will climb as the year continues.
"The acquisition of Cobalt marks another exciting milestone for Bison and puts us on track to exceed our goal of doubling the Company's permanent water infrastructure by the end of 2019,” North Whipple, Bison’s CEO, stated in the release.
“Specifically, this acquisition advances our development of additional disposal capacity in the SCOOP and accelerates the integration of our water pipeline systems across the region.”
Whipple stated Bison’s growing scale, operational capabilities and a customer-first philosophy that’s focused on ways to reduce capital expenditure costs continues to distinguish it among its peers.
“As we fully realize the benefits of the Cobalt acquisition and complete construction of our integrated pipeline networks, we anticipate that anyone connected into our water infrastructure systems will increasingly benefit from our efficiency gains,” Whipple stated, as part of the release.
As for Bison’s water infrastructure systems, company officials said they expect to end 2019 with about 150-200 miles of interconnected water-gathering pipelines in the SCOOP, Merge and STACK plays of the Anadarko Basin.
Officials also said Bison is working to obtain permits for surface containment facilities that can hold more than 2.5 million barrels of water that will be used for water recycling/reuse and peak-load redundancies.
Bison was created in 2015 and provides customers with trucking, logistics and environmental services that include pipeline construction, midstream manufacturing and fabrication, fishing and rental tools and a wide range of other energy infrastructure solutions.
Officials said in November it employed more than 1,500 workers operating out of 17 yards.
Beyond recent acquisitions, Bison also announced Monday it had launched a new company called Bison Technologies, which it said will focus on solving the energy industry's most challenging water, logistics and infrastructure-related problems.
Officials said they expect the firm’s technology-based solutions, expected to deploy later this year, to be transformative to these historically low-tech sectors of the industry.
"We are continuing to evaluate numerous opportunities to expand our platform across the state, including additional acquisitions, greenfield infrastructure buildout and the deployment of new-technology solutions,” Whipple stated in the release. “We look forward to sharing these exciting developments over the coming year."