Diamondback, KKR to buy Five Point’s 70% stake in Deep Blue

Diamondback Energy and KKR have agreed to acquire Five Point Infrastructure’s 70% stake in Midland Basin water operator Deep Blue Midland Basin for cash.

The deal would give Diamondback and KKR joint ownership of the Midland Basin water infrastructure business, in which the former already holds a 30% interest.

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The financial terms of the deal were not disclosed by the companies.

This story was originally published by Offshore Technology. Read the full story at Offshore Technology →