Greeley, CO – December 7, 2018 – Expedition Water Solutions Colorado LLC (“Expedition”) is pleased to announce the acquisition of water infrastructure assets that further expand Expedition’s position in the Powder River Basin (“PRB”) in the core of PRB activity. The acquisition also provides Expedition an attractive greenfield growth avenue for additional assets in the core of the PRB.
Expedition has acquired Bluegrass Water, LLC (“Wright”) and Bluegrass Southern Cross LLC (“Southern Cross”), together (“the Facilities”), which collectively offer more than 10 million Bbls of capacity in the PRB and Wamsutter basins. The assets currently serve the largest operators in the PRB under long-term take-or-pay and/or acreage dedication contracts.
Expedition will remain committed to the company’s Platinum Health, Safety and Environmental standards rating and embark on several projects that will improve the HSE programs and efficiency at the Facilities.
Jim Goddard, President & Founder of Expedition, stated, “We are thrilled to bring the Bluegrass facilities into the Expedition family. With this acquisition, we will continue to pursue the Expedition standards of excellence, superior service and best-in-class safety as we grow to become the leader in Wyoming water disposal.”
“We are delighted to expand our water midstream footprint in the PRB with this acquisition. The Bluegrass assets provide us with the scale to provide comprehensive, basin-wide disposal infrastructure to contracted customers. They also provide a unique base to further scale our operations with greenfield projects.” Commented Zach Neal, Chief Commercial Officer & CFO of Expedition.
About Expedition Water Solutions
Expedition Water Solutions is a water midstream company with principal operations in the Denver-Julesburg Basin (“DJ Basin”) of Colorado and the Powder River Basin (“PR Basin”) of Wyoming. Expedition is led by Jim Goddard, President and Founder, and Zach Neal, Chief Commercial Officer and CFO. Founded 2013, Expedition has demonstrated extraordinary growth since inception and has grown to become a dominant player in its markets. Expedition is a high-growth, acquisitive, private equity-backed company. Asset development projects include saltwater disposal wells, evaporative ponds, and saltwater gathering pipelines. Expedition is the premier water midstream operator in the Rockies. For more information, please visit www.expedition-water.com.
About Platform Partners LLC
Founded in 2006, Platform Partners LLC is a private investment company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. For more information, please visit www.platformllc.com.