WaterBridge Announces Long-Term Commercial Agreements with BPX Energy to Support Delaware Basin Development
Up to 600MBbls/d of new produced water handling capacity to be developed, including up to 400MBbls/d on LandBridge surface
Agreement includes a 10-year minimum volume commitment by BPX Energy
WaterBridge’s abundant access to pore space through its affiliate relationship with LandBridge Company LLC (NYSE: LB), a leading land management platform that owns 273,000+ surface acres in the
“We’re excited to expand our commercial relationship with bpx energy. Our new agreement provides enhanced and sustainable produced water handling solutions as bpx advances its development plans in the Stateline region,” said Jason Long, Chief Executive Officer of WaterBridge. “As pioneers of midstream water management, and through our affiliate relationship with LandBridge, we have unparalleled resources to develop and support purpose-built scalable infrastructure for blue chip operators, including produced water handling and reuse networks across vast and contiguous surface acreage.”
“It’s important to develop long-term sustainable water solutions in the Permian Basin. The WaterBridge executive team has the scale and operational expertise to match our focus on operational excellence, and long-haul solutions represent a valuable and responsible way to manage water through our multiple decades of Permian resource,” said Kyle Koontz, Chief Executive Officer of bpx energy.
“The scale of this multi-year agreement is a testament to the importance of strategically located surface access and the symbiotic relationship we have with LandBridge,” said Michael Reitz, Chief Operating Officer of WaterBridge. “Our unmatched surface and pore space capacity and our ability to disperse produced water volumes across a broad geographic footprint were critical elements in designing a tailored water-handling solution that is perfectly suited to bpx energy’s needs.”
Vinson & Elkins LLP served as legal counsel to WaterBridge and Locke Lord LLP served as legal counsel to bpx energy.
About NDB Midstream and WaterBridge Operating LLC
NDB Midstream LLC is a strategic partnership between Five Point Energy and Devon Energy Corp. (NYSE: DVN) that operates full-cycle produced water transportation, handling, recycling and reuse assets in the northern
WaterBridge Operating LLC is a portfolio company of Five Point Energy and GIC that operates full-cycle produced water transportation, handling, recycling and reuse assets in southern
WaterBridge collectively comprises the largest pure play produced water midstream business in the industry. Headquartered in
About BPX Energy
bpx energy, bp's US onshore business, operates in the Permian, Eagle Ford, and Haynesville basins. Headquartered in
About LandBridge
Since its founding in 2021, LandBridge has served as a leading land management business within the
About Five Point
Five Point Energy is a private equity firm focused on building businesses within the environmental water management, surface management and sustainable infrastructure sectors. The firm was founded by industry veterans who have had successful careers investing in, building, and running midstream infrastructure companies. Five Point’s strategy is to buy and build assets, create companies, and grow them into sustainable enterprises with premier management teams and industry-leading E&P partners. Based in
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Scott McNeely
Chief Financial Officer
NDB Midstream LLC
WaterBridge Operating LLC
Contact@h2obridge.com
Media
Daniel Yunger / Nathaniel Shahan
Kekst CNC
daniel.yunger@kekstcnc.com / nathaniel.shahan@kekstcnc.com
Source: NDB Midstream and WaterBridge Operating LLC