Expectations for future growth at Lagoon Water Solutions are rising as quickly as the volumes of water it handles.
Key leadership changes earlier this year preceded Lagoon’s announced deal with Continental Resources, where Lagoon is buying the latter’s water gathering and recycling system in Blaine County for $85 million.
Kevin Lafferty, Lagoon Water Solutions’ CEO, said the company is just getting started.
“We have put a leadership team together that largely comes from upstream operators like Devon, Marathon and Continental,” Lafferty said. “They come from the world of our customers. We have lived in their shoes, and we have been there, so we know what they need.”
Lafferty said Lagoon’s acquisition of Continental Resources’ Blaine County water system is a game changer for many operators in the STACK play because it provides them with a way to reuse recycled produced water that previously only had been available to the seller.