A strategic financial partnership with Orion Energy Partners and its affiliated funds will allow Lafayette-based Produced Water Transfer to grow its existing business in the Cotton Valley and the Haynesville Shale formations.

The amount of Orion Energy's investment was not disclosed. However, the company focuses on middle market firms and says its preferred investment range is $25 million to $200 million.

Produced Water Transfer plans to use the money to expand its existing water disposal network in Shelby County, Texas, and to acquire an existing water-gathering and disposal system.

The Cotton Valley and Haynesville formations stretch from northwest Louisiana to east Texas.