WaterBridge’s private-equity backer sold a stake that implied a $2.8 billion enterprise value for the water midstream company that has a growing position in the Permian Basin.
NGL Energy Partners agreed to acquire privately held Mesquite for $890 million, which the company claims will create the largest water transportation and disposal company in the Delaware Basin.
The sale of Permian midstream assets in the Delaware Basin by PDC Energy helped the Denver-based oil and gas company offset a first-quarter miss, analyst says.
At DUG Permian Basin, Brent Halldorson, chief technology officer for Fountain Quail Water Management, and Michael Dunkel, vice president for water with Jacobs Engineering Group, did a wide-ranging a panel discussion on water economics in the big play. But both focused in particular on costs and operations.
The acquisition of Fountain Qual Water Treatment is expected to strengthen XRI Holdings’ network of water midstream systems in the Permian Basin.