Colgate Flips Occidental Petroleum Water Asset in Sale to WaterBridge

Colgate Energy agreed to sell the produced water infrastructure associated with its recent $508 million asset acquisition from Occidental Petroleum in the Permian Basin.

Colgate Flips Occidental Petroleum Water Asset in Sale to WaterBridge

The newly acquired infrastructure from Colgate Energy will be integrated into WaterBridge’s extensive Delaware Basin water network, which, following the transaction, provides over 2.1 million bbl/d of water handling, reuse and redelivery capacity. (Source: WaterBridge Holdings LLC)

Following back-to-back transformational acquisitions in the Delaware Basin, privately held Colgate Energy LLC has struck again.

Colgate agreed to sell the produced water infrastructure associated with its recent asset acquisition from Occidental Petroleum Corp. in a transaction with WaterBridge Holdings LLC on Sept. 10. Though terms of the transaction weren’t disclosed, the deal also includes an expanded produced water management agreement with WaterBridge for all of Colgate’s operated acreage in the Delaware Basin.

“Colgate’s decision to expand their relationship with WaterBridge further validates our position as the water solutions provider of choice in the Delaware Basin,” commented Jason Long, co-CEO and COO of WaterBridge, in a release by the company.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.