Deep Blue Midland Basin completed the acquisition of Environmental Disposal Systems from Diamondback Energy for $750m.

Deep Blue Midland Basin, a developer and operator of integrated midstream water infrastructure networks to manage water for exploration and production companies throughout the Midland Basin, agreed to acquire Environmental Disposal Systems, a provider of sustainable produced water management services, from Diamondback Energy, an independent oil and natural gas company, for $750m. “This transaction enhances our footprint and accelerates our mission to optimize water management across the Midland Basin while prioritizing greater sustainability by recycling massive amounts of produced water for upstream development. It ensures our customers benefit from unmatched scale and innovative solutions while shaping the future of water management in the Midland Basin,” Scott Mitchell, Deep Blue Chief Executive Officer.