Bison has entered into a 15-year Water Gathering and Disposal Agreement with Marathon Oil Company, a subsidiary of Marathon Oil Corporation.
Image: Bison and Marathon sign 15-year agreement. Photo: Courtesy of LoggaWiggler/Pixabay.
Under the agreement, Bison will exclusively manage all of Marathon’s produced water infrastructure, as well as any future acreage operated by Marathon within a 5.4 million acre dedicated area.
North Whipple, CEO of Bison, commented: “We are excited to expand our relationship with Marathon through this long-term water gathering and disposal agreement. This water infrastructure dedication is the first-of-its-kind in the SCOOP, STACK and Merge and is the direct result of Bison’s proven ability to partner with customers and materially lower their operating expenses. We remain on track to meet or exceed our previously announced expansion plans and this agreement further underpins our development with a world-class upstream operator. Today marks another significant milestone in delivering on our promise to bring scalable and innovative cost-saving water solutions to the market.”
Source: Company Press Release