Texas Pacific Land Corp. (TPL) and WaterBridge NBD LLC are partnering to focus on sustainable oil development across Loving and Reeves counties, a press release announced on Sept. 9.
The two countries signed an agreement to provide full-cycle water solutions to customers spanning over 64,000 Delaware Basin acres through facilitating infrastructure and water services development and asset optimization.
“WaterBridge shares our vision for land and water resource management, and this agreement will expand the scale and efficiency of TPL’s water business while also supporting oil and gas development across our royalty acreage,” TPL CEO Tyler Glover commented in the release.
“Importantly, this will further optimize water disposal well spacing, which is paramount considering recent regulatory curtailment initiatives," Glover continued. "This alliance is critical towards serving our customers and operators across an enormous land position in the core of the Delaware Basin, which ultimately benefits TPL shareholders and other key stakeholders.”
TPL will deliver its source water capabilities to an underdeveloped area, while WaterBridge will grow its produced water management and infrastructure options. While expanding their businesses, together they will develop sustainability-focused disposal and reuse solutions.
“We are excited to join with TPL to provide best-in-class water solutions to our customers and accelerate responsible oil and gas development," WaterBridge co-CEO Jason Long added.
WaterBridge chairman David Capobianco shared in the press release that the alliance between the two companies will provide the Delaware Basin with a model for ESG-friendly development.
"This alliance covers a region of the Delaware Basin that offers some of the most attractive drilling opportunities in North America and that has to-date been largely underutilized for large-scale development.”
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