[Context:On January 22, Clearlake Capital-backed Gravity Oilfield Services announced a multi-year water supply agreement with Callon Petroleum. Gravity is the new name for the entity formed from Globe Energy Services and Light Tower Rentals. Further details and related links are below.]
Gravity Oilfield Services Inc. Announces Exclusive, Multi-Year Water Supply Agreement with Callon Petroleum Company in the Permian Basin
MIDLAND, Texas–January 22–(BUSINESS WIRE)–Gravity Oilfield Services Inc. (“Gravity” or the “Company”) today announced it has signed an exclusive, multi-year agreement with Callon Petroleum Company (“Callon”) to provide fresh water to Callon’s operations in the Southern Delaware and Midland basins in the Permian Basin.
Gravity is also expanding its sourcing infrastructure, storage and pipelines to support the long-term development of Callon’s oil and gas assets in the Permian Basin.
Gravity Oilfield Services is a growth-oriented, Permian-focused provider of a wide range of oilfield services to U.S. onshore oil and natural gas exploration and production companies, including water logistics and infrastructure solutions, portable power generation and equipment rentals and specialty production chemicals. The Company has significant coverage density in the Permian Basin, and also benefits from a national footprint supported by facilities, operations and management personnel in several key domestic resource plays, including the Eagle Ford Shale, SCOOP/STACK, Williston Basin, DJ Basin, Marcellus Shale and Haynesville Shale, among others.