H2O Midstream LLC is one step closer to realizing its goal of becoming the top water midstream provider in the Permian Basin, according to CEO Jim Summers.

The Houston-based company founded on the vision that water should be treated as a commodity, not a waste, said Aug. 21 it added once again to its portfolio with the acquisition of private Permian operator, Sabalo Energy LLC’s, produced water infrastructure in the basin. The terms of the transaction weren’t disclosed.

Concurrent with the Sabalo acquisition, EIV Capital and multiple co-investors “substantially increased” their equity commitment for H2O Midstream to pursue additional growth opportunities throughout the Permian Basin, the company release said.

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