Aris Water Solutions said in its earnings release that it had acquired all of Delaware Energy’s assets on Aug. 1 in exchange for 3.37 million Class A shares and a small, volumetric-based contingent consideration paid over five years.
Under the new agreement, Aris Water Solutions will provide produced water handling and recycling services in a portion of Chevron’s core position in the Delaware Basin of the Permian.
In this exclusive video interview, Blackbuck Resources CEO Justin Love discusses his company’s ESG-focused strategy and initiatives to overcome water management challenges in the Permian Basin.
The new dedicated long-term agreement spans an area over 300,000 acres in New Mexico and Texas.
Implementing nanotechnology can help move away from band-aid solutions employed in the oil and gas industry and its wastewater discharges, and this will manifest green solutions that are both economical and sustainable.
“NGL remains steadfast in our commitment to delivering full-lifecycle water management for our customers while remaining focused on the environment and the sustainability of our operations,” said Doug White, EVP of NGL Water Solutions.
The ban has West Texas oil producers in the Permian Basin looking for ways to reduce wastewater injections that could raise costs. Solutions include recycling the wastewater or piping and trucking it elsewhere.
ConocoPhillips, Diamondback, NGL Energy Partners, Coterra and Chevron have disposal wells in areas where the Texas Railroad Commission is shutting deep injection wells or is likely to reduce disposal volumes.
Better incident and performance data will help chart a path to efficient investment in equipment, materials and training best suited to avoid the known root causes of pipeline and wellpad breakdowns.