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Oaktree Capital Invests in Priority Power

DALLASJune 23, 2022 /PRNewswire/ — Goodnight Midstream LLC (“Goodnight”), a leading midstream produced water infrastructure company, today announced two new initiatives with industry-leading partners aimed at expanding the utilization of renewable energy and supporting grid reliability.

Goodnight has signed a definitive agreement for the installation of a 500-kilowatt solar generation system at one of its Llano pipeline receipt points in Eddy County. Goodnight will lease the photovoltaic supplemental power system from Priority Power, a leader in energy optimization and infrastructure, offering smart energy solutions and streamlined transitions to carbon neutrality. The system is expected to begin commercial operations during the fourth quarter of 2022, and Goodnight’s ongoing produced water operations will enable an estimated 750 MWh of solar energy annually to be sold back to the New Mexico power grid for use by other customers in the region.

The Company today also announced that it has entered into a groundbreaking demand response program in North Dakota, in partnership with Power-on-Demand, LLC, which will provide a 500-kilowatt battery energy storage system for temporary power that can be utilized during operating peaks and demand changes. The program is designed to support the Southwest Power Pool Operating Reserves in improving the reliability, resiliency and sustainability of the grid, and managing peak demand for customers across a multi-state footprint. The program is expected to be operational by the end of 2022 and to expand to up to 14 additional sites in the state in the coming two to three years.

The program builds on Goodnight’s current participation in the ERCOT demand response program that is increasingly critical to enhancing electrical reliability and combatting intermittency issues in the state of Texas. 

“At Goodnight, our business is centered around an environmentally conscious approach and these recent initiatives underscore our commitment to expand our ESG efforts even further,” said Patrick Walker, CEO of Goodnight Midstream. “As we provide safe, efficient and sustainable produced water services, we are continuously evaluating and identifying new ways to reduce emissions and have a positive impact on the environment. We look forward to continue working with industry leaders and innovators to enhance the amount of renewable energy that supports our infrastructure and operations, while simultaneously facilitating the delivery of reliable, sustainable energy to the communities in which we operate.”

In 2021, Goodnight transported over 100 million barrels of produced water through its pipelines, resulting in 18,600 metric tons of reduced carbon dioxide emissions. That is equivalent to avoiding more than 11.9 million truck miles or removing 4,046 cars from the road.