Gravity Acquires On Point Oilfield Holdings

Gravity Oilfield Services Acquires Water Disposal Infrastructure from MBI Oil & Gas

March 21, 2019

Oil & Gas

Gravity Oilfield Services, a Clearlake Capital-backed water midstream platform, acquired certain water disposal infrastructure assets from MBI Oil & Gas, LLC to expand its Bakken footprint and strengthen relationships with regional operators. Financial terms were not disclosed.

Delek Logistics Partners Acquires Gravity Water Midstream Business

January 4, 2025

Energy

Delek Logistics Partners LP completed the acquisition of Gravity Water Intermediate Holdings (the water midstream business of Gravity Oilfield Services) for $285 million, consisting of $200 million cash and approximately 2.175 million DKL units. The assets — integrated produced water gathering, transportation and full-cycle water systems operating mainly in the Midland Basin (Howard County) and Bakken — expand DKL's water services footprint and complement its recent H2O Midstream acquisition to create integrated crude and water midstream offerings.

Pioneer Natural Resources Acquires DoublePoint Energy Assets in Midland Basin

May 4, 2021

Oil & Gas

Pioneer Natural Resources completed the acquisition of the leasehold interests and related assets of DoublePoint Energy (structured as the purchase of Double Eagle III Midco 1 LLC) in the Midland Basin for approximately $6.2–$6.4 billion in stock, cash and assumed debt. The transaction adds ~97,000 contiguous net acres to Pioneer's Midland Basin footprint and was approved by the boards of the companies; DoublePoint was backed by equity commitments from Apollo, Quantum Energy Partners, Magnetar Capital and Blackstone Credit.

MML Capital Acquires OnPoint Industrial Services from Capstreet and HCI

December 6, 2022

Industrial Services

MML Capital Partners has acquired OnPoint Industrial Services, a Deer Park, Texas-based provider of safety, logistics and planning services for refinery and petrochemical turnarounds, from Capstreet (with minority involvement from HCI Equity Partners). Financial terms were not disclosed; Stellus Capital provided senior debt financing and an equity co-investment to support the transaction. MML said it will invest in technology and expand OnPoint's capabilities to accelerate growth.

Onpoint Industrial Services Acquires Scope Management Solutions

September 1, 2020

Industrial Services

Onpoint Industrial Services acquired Scope Management Solutions (effective September 1, 2020), integrating Scope's operations, customer accounts and Santa Fe, Texas location into Onpoint. The acquisition strengthens Onpoint's materials-management capabilities for turnarounds and capital projects and brings two Scope leaders, Dean Richardson and Todd Walker, into Onpoint's leadership team.

Golden Gate Capital Launches Stonehill Environmental Partners and Acquires Waterfield Midstream Assets

April 15, 2021

Energy

Golden Gate Capital launched a new energy infrastructure platform, Stonehill Environmental Partners, led by CEO Jay Parkinson, and is the platform's anchor investor. As Stonehill's first acquisition, Golden Gate acquired the assets of Waterfield Midstream in the Permian Basin (Martin County, Midland Basin) to serve as the flagship investment for the water pipeline, recycling and disposal business.