Gravity Oilfield Services Inc. has announced the sale of its Gravity Water Midstream division to Delek Logistics Partners, LP. This division specializes in gathering, transporting, recycling, storing, and disposing of produced water in key oil-producing regions, specifically the Midland Basin in Texas and the Williston Basin in North Dakota.

Rob Rice, CEO of Gravity, expressed gratitude towards the employees for their dedication in building a significant commercial water management platform. He emphasized that the partnership with Clearlake Capital Group has been instrumental in this growth. Rice is optimistic about the future of water management in these basins under Delek Logistics' leadership.

Despite this divestiture, Gravity will maintain its power infrastructure assets, continuing its focus on critical power generation services. Since partnering with Clearlake in 2017, Gravity has expanded its water infrastructure business, becoming one of the largest operators of disposal wells in the Midland Basin. The Gravity Water Midstream division boasts an extensive network, including over 200 miles of pipeline, 46 saltwater disposal (SWD) facilities, and 14 freshwater facilities with a storage capacity exceeding six million barrels.

Clearlake Capital, which has supported Gravity's growth, acknowledged the successful execution of their vision to establish a leading water midstream platform. The firm thanked Gravity's team for their commitment to organic growth over the years.

Piper Sandler & Co acted as the exclusive financial advisor, while Vinson & Elkins LLP provided legal counsel for the transaction.

Gravity Oilfield Services is a provider of energy infrastructure services, focusing on water midstream solutions and power generation for U.S. oil and gas exploration and production companies. The company has a strong presence in the Permian Basin and operates across several other key resource plays, including the Bakken and Eagle Ford.

Clearlake Capital Group, founded in 2006, is an investment firm that integrates private equity, credit, and other strategies. With a focus on operational improvement, Clearlake partners with management teams to provide long-term capital. The firm manages over $85 billion in assets and has a global presence with offices in multiple countries.

For further information, Gravity and Clearlake have provided media contacts for inquiries.