ArcLight, an infrastructure firm, and Rattler, a midstream oil and gas company, agreed to create the 50/50 joint venture. Financial terms were not disclosed. "Capturing and efficiently processing natural gas in the Permian Basin is a key part of the US energy transition and we look forward to supporting Diamondback in these efforts. We look forward to growing the joint venture and our relationships with Rattler and Diamondback in the years to come," Dan Revers, ArcLight Managing Partner and Founder.