Diamondback’s Rattler Midstream Acquires $104 Million Stake in Midland Basin JV

Rattler Midstream acquired a minority interest in a gas gathering and processing JV servicing the Midland Basin where Diamondback Energy is deploying a majority of its development capital.

Hart Energy Staff

Diamondback Energy Inc. acquired a stake in a strategic Midland Basin gas gathering and processing joint venture (JV) through its midstream affiliate, Rattler Midstream LP, the major Permian shale producer said in a recent release.

“This deal highlights the strategic relationship between Diamondback and Rattler as this is the sixth significant joint venture with Diamondback as a major customer in which Rattler has participated,” Diamondback CEO Travis Stice commented in the company release on Oct. 12.

According to the release, Rattler completed the acquisition of a majority interest in a Midland Basin gas gathering and processing company from West Texas Gas Inc. and its affiliates through a JV with a private affiliate of an investment fund.

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