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

Firefly Capital Management Acquires Gravity Power & Rental

August 4, 2026

Infrastructure

Firefly Capital Management and its affiliates acquired Gravity Power & Rental, a Houston-based provider of mobile power generation and equipment rental infrastructure. The deal creates a national “power as a service” onsite power platform to address growing US demand driven by AI, electrification, and digital infrastructure growth.

Deep Blue Midland Basin LLC Acquires Environmental Disposal Systems, LLC from Diamondback Energy

September 2, 2025

Energy

Deep Blue Midland Basin LLC, the Midland Basin water-infrastructure platform backed by Five Point and Diamondback, agreed to acquire Environmental Disposal Systems, LLC from Diamondback Energy. The transaction (valued at $750 million) nearly doubles Deep Blue's scale, secures a 15-year dedication from Diamondback, and is expected to unlock operational and commercial synergies across the integrated produced-water system.

Delek Logistics Partners Acquires Gravity Water Intermediate Holdings (Gravity Water Midstream)

January 4, 2025

Industrial Services

Delek Logistics Partners, L.P. (NYSE: DKL) completed its previously announced acquisition of Gravity Water Intermediate Holdings, which houses Gravity’s water midstream operations (Gravity Water Midstream). The transaction is valued at $285 million, including $200 million in cash (subject to closing adjustments) and approximately 2.175 million DKL units. Gravity Oilfield Services (backed by Clearlake) agreed to sell the water midstream division while retaining its power infrastructure assets.

Integrated Water Services and Sciens Water Acquire M|MBR Systems

January 10, 2023

Environmental Services

Integrated Water Services, in partnership with Sciens Water Opportunities Management, acquired 100% of M|MBR Systems, a membrane bioreactor (MBR) manufacturer and distributor based in Austin, Texas. The deal brings MBR manufacturing, technical expertise and the BluBox modular MBR product under IWS’s umbrella to expand capability and cross-sell solutions across water reuse and wastewater treatment markets in North America.

Select Energy Services Acquires Agua Libre Midstream and Water Assets from Basic Energy Services

October 12, 2021

Oil & Gas

Select Energy Services, an SCF Partners portfolio company, acquired substantially all assets of Agua Libre Midstream, LLC and certain water-related assets and operations of Basic Energy Services, L.P. The deal adds more than 550,000 barrels per day of permitted disposal capacity across Texas, New Mexico, Oklahoma and North Dakota—roughly doubling Select’s produced-water disposal footprint to about 2 million barrels per day—and is an add-on to its water infrastructure platform.

Gravity Acquires On Point Oilfield Holdings

November 7, 2019

Energy

Gravity, a Clearlake-backed water and energy infrastructure platform, has acquired On Point Oilfield Holdings from White Deer Energy, creating the largest produced water (saltwater disposal) company in the Midland Basin. On Point founders and key executives have joined Gravity’s management team; financial terms were not disclosed.