M&A Deal Summary

Gravity Oilfield Services Acquires On Point Oilfield Holdings

On November 6, 2019, Gravity Oilfield Services acquired oil/gas exploration company On Point Oilfield Holdings from White Deer Energy

Acquisition Highlights
  • This is Gravity Oilfield Services’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Gravity Oilfield Services’ 6th transaction in the United States.
  • This is Gravity Oilfield Services’ 4th transaction in Texas.

M&A Deal Summary

Date 2019-11-06
Target On Point Oilfield Holdings
Sector Oil/Gas Exploration
Buyer(s) Gravity Oilfield Services
Sellers(s) White Deer Energy
Deal Type Add-on Acquisition

Target

On Point Oilfield Holdings

Austin, Texas, United States
On Point Oilfield Holdings LLC is a contracted produced water midstream company focused on gathering and disposal operations in the Midland Basin.

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Buyer(S) 1

Buyer

Gravity Oilfield Services

Houston, Texas, United States

Category Company
Founded 2017
Sector Energy Services and Equipment
DESCRIPTION

Gravity Oilfield Services is a provider of critical oilfield services including water logistics and infrastructure solutions, comprehensive remote power offerings, and wellbore services to upstream oil and natural gas companies operating throughout the United States. Gravity Oilfield Services was formed in 2017 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 6 of 6
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 4 of 4
Country: United States M&A 6 of 6
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 Pyote Water Systems - Certain Water Disposal Assets

Texas, United States

Pyote Water Systems LLC's Certain Water Disposal Assets engage in the business of owning and operating saltwater disposal facilities, freshwater stations, brine stations, and any other facilities.

Buy -

Seller(S) 1

SELLER

White Deer Energy

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

White Deer Energy is a specialist private equity investment group focused on the energy sector. White Deer targets equity investments of $25 to $100 million in companies active in oil and gas production, oil service and equipment manufacturing and midstream infrastructure. Prospective transaction situations include companies in need of capital for growth, companies with follow-on opportunities, or management teams looking to continue to operate their companies. The Firm prefers control or co-control positions. White Deer Energy was formed in 2008 and has offices in Houston, Texas and New York, New York.


DEAL STATS #
Overall 10 of 18
Sector: Oil/Gas Exploration M&A 3 of 3
Type: Add-on Acquisition M&A Deals 7 of 9
State: Texas M&A 5 of 8
Country: United States M&A 10 of 16
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-23 TorcSill

Houston, Texas, United States

TorcSill is a provider of engineered helical pile and anchor foundation solutions across the energy, industrial, and power end markets. TorcSill was founded in 2011 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Exero

Denver, Colorado, United States

Exero is an oilfield services company that provides cementing services in the Rocky Mountain region. Exero was founded in 2019 and is based in Denver, Colorado.

Buy -