It seems there is a merger or acquisition of one company by another taking place daily in the oil patches of Oklahoma, Texas, New Mexico and other states where oil and gas exploration is underway.
One of the latest took place this week in Houston where Sourcewater, Inc. announced the acquisition of Digital H2O, Inc, which is a subsidiary of Genscape, Inc. Sourcewater is a firm that provides water available and sources to more than 1,200 companies nationwide.
Joshua Adler, Founding Chief Executive of Sourcewater said, “Digital H2O was a pioneer in the oilfield water data space. With the addition of their saltwater disposal analytics service and data archives to our industry-leading geospatial water intelligence platform, Sourcewater is now the definitive source for oilfield water market data both in to and out from the well pad.”
He wasn’t afraid to state that Sourcewater now knows where every drop of fresh, brackish, produced and flowback water comes from, where it goes, who has it, who needs it and how much they are paying.
“Now we can also show the flow rates and logistical relationships between every operator lease and every commercial disposal in Texas, and the capacity utilization of most saltwater disposal and injection wells nationally. Water sourcing and disposal capacity are becoming the primary constraints on energy production in the Permian Basin and many other key regions, and Sourcewater is ideally positioned to ride this wave.”
Sourcewater spun out in 2014 from MIT as the first online marketplace for water. Today over 1,000 companies and billions of barrels of water are active on Sourcewater.com.