Once managed individually by energy producers, the job of supplying, collecting and disposing of water is a rising cost, and has spawned a $34 billion a year business in the U.S. that has lured investors.
Equitrans Midstream Corp. said on March 15 its unit will buy a stake in two pipeline systems in Ohio and West Virginia from a fund managed by Morgan Stanley, in a deal worth $1.03 billion.
TPG Capital agreed to buy into the water management business with the acquisition of a majority stake in Goodnight Midstream from Tailwater Capital.
The midstream affiliate of Hess agreed to acquire the Tioga Gathering System in the Bakken where the oil and gas producer plans to grow production by 20% this year.
Analysts believe the expanded midstream joint venture could help Matador Resources minimize outspend as the company looks into selling assets outside its core position in the Permian Basin.
Funds managed by Blackstone agreed to acquire the stake in Targa Badlands, which operates oil and gas gathering and processing assets in the Bakken.