Diamondback Energy-backed Rattler Midstream completed the acquisition of Midland Basin from West Texas Gas for $104m.

Diamondback Energy-backed Rattler Midstream, a midstream oil and gas company, completed the acquisition of Midland Basin from West Texas Gas, a local distribution gas company, for $104m. “This deal highlights the strategic relationship between Diamondback and Rattler as this is the sixth significant joint venture with Diamondback as a major customer in which Rattler has participated. With Diamondback deploying a majority of its development capital in the Northern Midland Basin, expanded gas gathering and processing capacity and an enhanced relationship with a crucial midstream partner with strong financial backing will support Diamondback’s upstream development. For Rattler, the joint venture is an attractive opportunity to invest in a growing gas gathering and processing system in the core of the Midland Basin,” Travis Stice, Rattler CEO.