Diamondback (FANG) JV Acquires New Water Infrastructure Assets

Diamondback Energy's (FANG) joint venture (JV) with Five Point Energy LLC, Deep Blue Midland Basin, has acquired the water infrastructure assets from Lagoon Operating Midland. The acquisition underscores the JV's commitment to sustainable water management practices at the heart of the Midland Basin. The financial details of the transaction have not been disclosed. Lagoon's assets include a large-diameter pipeline spanning approximately 105 miles, a disposal capacity of 240,000 barrels per (bpd) and an addit ...