NAC in the News

 

 

 

 

 

 

 

North Avenue Capital Infuses Rural Oklahoma's Oil and Gas Industry with $9.2 Million in USDA-Backed Funding

 

Oklahoma – June 2021 –

North Avenue Capital (“NAC”), a leading provider of USDA-backed commercial loans, is cementing its support of rural Oklahoma’s Oil and Gas Industry by providing Kingfisher Disposal Services, LLC, Kingfisher Disposal Assets Holdings, LLC, and Dibble SWD Holdings, LLC with $9.2 million in total funding through government-guaranteed commercial loans.


The owner and operator of the borrowing entities has developed, managed, and sold saltwater disposal sites in the south-central Oklahoma Province (“SCOOP”) and Sooner Trend Anadarko basin Canadian and Kingfisher counties (“STACK”) for 20 years. These areas have been recognized as some of the most lucrative spaces in the nation for Oil and Gas (“O&G”) exploration since 2016.

 

The USDA Business & Industry loans from NAC will help the Borrowers refinance existing debt, purchase new machinery and equipment, fund payment reserves, and pay loan-related soft costs.

The Borrowers have a common management team with more than 20 years of permitting, constructing, and operating experience. The extensive background of their leaders provides the Companies with opportunities to continue the construction of new facilities and capture more market share throughout the region.

 

Based in one of the O&G industry’s most active regions, the surrounding community benefits mightily from the Companies’ saltwater disposal wells, which are designed to dispose of wastewater generated from oilfield drilling in a controlled, monitored, and environmentally conscious manner. The Borrowers exclusively operate wells at depths below five thousand feet, giving them a competitive advantage over competitors that operate shallow depth wells.

 

About North Avenue Capital

North Avenue Capital is a specialized commercial lender exclusively originating, underwriting, and funding USDA Rural Development loans. The largest B&I lender in the country, NAC uses its expertise, capital, and relationships to build businesses, grow economies, and create jobs in rural America. Learn more about NAC and its Borrowers at www.northavenue.com.

 

About Kingfisher Disposal Services & Dibble SWD Holdings

Kingfisher Disposal Services and Dibble SWD Holdings are Oklahoma-based saltwater disposal companies focused on providing disposal solutions to O&G operators in the SCOOP and STACK regions of Oklahoma. The leadership teams have over 50 year’s of combined industry experience and have financed, built, and managed multiple facilities over their careers. The Companies have multiple operational facilities in Kingfisher Blaine counties with a total permitted volume of 45,000 barrels of water per day, leaving plenty of capacity for growth.