Five Point Energy, a private equity firm focused on building businesses within the water management and sustainable infrastructure sectors, and Devon Energy, an oil and gas producer, formed a joint venture. Financial terms were not disclosed. "Our joint venture with Devon is one of the largest in the water sector to date, and is transformative for WaterBridge as it significantly expands our industry-leading platform's scale, commercial reach and strategic value. Since WaterBridge's founding in 2016, we have been pioneers of midstream water management, progressively addressing the produced water needs of our blue-chip clients and reducing reliance on freshwater sources for drilling and completion activities. The future of WaterBridge could not be brighter as we work to bring incredibly innovative solutions to market in the near future, including desalination hubs," David Capobianco, Five Point Energy CEO.