WaterBridge NDB And Devon Energy Form Strategic Delaware Basin Produced Water Partnership
Portfolio Pulse from Happy Mohamed
WaterBridge NDB LLC, a portfolio company of Five Point Energy LLC, has formed a strategic partnership with WPX Energy Permian, LLC, a subsidiary of Devon Energy Corp. (NYSE:DVN). The partnership will result in the largest private water infrastructure system in the Stateline region of the Delaware Basin. As part of the transaction, Devon has committed all of its produced water within a large area of mutual interest and received a 30% equity interest in NDB Midstream.
August 07, 2023 | 9:08 pm
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Devon Energy Corp. has entered into a strategic partnership with WaterBridge NDB, which will significantly increase its water handling capacity. Devon has also received a 30% equity interest in NDB Midstream.
The partnership with WaterBridge NDB will provide Devon with increased water handling capacity, which is crucial for its operations. The 30% equity interest in NDB Midstream also represents a significant investment and potential source of revenue for Devon.
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