Rattler Midstream Operating to acquire the water midstream assets from Diamondback for $160m.

Rattler Midstream Operating, a crude oil, natural gas and water-related midstream assets, agreed to acquire the water midstream assets from Diamondback, an independent oil and natural gas company, for $160m. The assets subject to the drop down consist primarily of produced water gathering and disposal systems, produced water recycling facilities, and sourced water gathering and storage assets acquired by Diamondback through transactions with QEP Resources and Guidon Operating and certain of its affiliates in early 2021.