Texas Pacific Land Corporation and WaterBridge NDB LLC Form Delaware Basin Water Development and Sustainability Alliance
09 Setembro 2022 - 9:00AM
Business Wire
Texas Pacific Land Corporation (NYSE: TPL) (“TPL”) and
WaterBridge NDB LLC (together with its subsidiaries, “WaterBridge”)
announced today a long-term agreement that establishes an alliance
focused on sustainable oil and gas development on over 64,000 acres
in Loving and Reeves County in the core of the Delaware Basin.
The agreement enables TPL and WaterBridge to provide full-cycle
water solutions to customers throughout an expansive, defined
region around the Stateline area by facilitating infrastructure and
water services development and asset optimization. The combined
land positions of TPL and WaterBridge provide unrivaled access to a
vast development area for each company. TPL will deliver its source
water capabilities across an underutilized developmental area, and
WaterBridge will expand its produced water management and
infrastructure operations. In addition, TPL and WaterBridge are
developing next-generation, sustainability-focused disposal and
reuse solutions.
“WaterBridge shares our vision for land and water resource
management, and this agreement will expand the scale and efficiency
of TPL’s water business while also supporting oil and gas
development across our royalty acreage,” said Tyler Glover, CEO of
TPL. “Importantly, this will further optimize water disposal well
spacing, which is paramount considering recent regulatory
curtailment initiatives. This alliance is critical towards serving
our customers and operators across an enormous land position in the
core of the Delaware Basin, which ultimately benefits TPL
shareholders and other key stakeholders.”
“We are excited to join with TPL to provide best-in-class water
solutions to our customers and accelerate responsible oil and gas
development. This alliance covers a region of the Delaware Basin
that offers some of the most attractive drilling opportunities in
North America and that has to-date been largely underutilized for
large-scale development,” said Jason Long, Co-CEO of
WaterBridge.
David Capobianco, CEO and Managing Partner of Five Point Energy
LLC and Chairman of WaterBridge, added, “We are pleased to expand
our relationship with TPL with another mutually beneficial
collaboration. With the added benefit of this alliance, we look
forward to offering unique and comprehensive water handling
services to our producer customers and to working with all
stakeholders to make the Delaware Basin a model for ESG-friendly
development.”
Forward Looking Statements
Certain matters contained in this press release include
“forward-looking statements.” All statements, other than statements
of historical fact, included in this press release may constitute
forward-looking statements. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable, we cannot assure you that these expectations will prove
to be correct. These forward-looking statements are subject to
certain known and unknown risks and uncertainties, as well as
assumptions that could cause actual results to differ materially
from those reflected in these forward-looking statements. Factors
that might cause actual results to differ include, but are not
limited to, the risk factors discussed from time to time in each of
our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any
forward-looking statements contained in this press release, which
reflect management’s opinions only as of the date hereof. Except as
required by law, we undertake no obligation to revise or publicly
release the results of any revision to any forward-looking
statements.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation (NYSE: TPL) is one of the largest
landowners in the State of Texas with approximately 880,000 acres
of land in West Texas, with the majority of its ownership
concentrated in the Permian Basin. The Company is not an oil and
gas producer, but its surface and royalty ownership allow revenue
generation through the entire value chain of oil and gas
development, including through fixed fee payments for use of our
land, revenue for sales of materials (caliche) used in the
construction of infrastructure, providing sourced water and treated
produced water, revenue from our oil and gas royalty interests, and
revenues related to saltwater disposal on our land. The Company
also generates revenue from pipeline, power line and utility
easements, commercial leases, and temporary permits related to a
variety of land uses including midstream infrastructure projects
and hydrocarbon processing facilities.
About WaterBridge NDB LLC
WaterBridge NDB LLC, a portfolio company of Five Point Energy,
together with its affiliate WaterBridge Holdings LLC, is the
largest pure play water solutions provider in the industry.
Headquartered in Houston, Texas, WaterBridge operates in the
Delaware Basin in west Texas and New Mexico, the Eagle Ford Basin
in south Texas, and the Arkoma Basin in southeast Oklahoma.
WaterBridge develops, owns and operates permanent, integrated water
infrastructure networks that handle full-cycle water requirements
of its blue-chip customer base under long-term, fee-based
contracts. WaterBridge benefits from a first-mover advantage in the
water midstream sector and the most experienced management team in
the industry. For further information, please visit
www.h2obridge.com.
About Five Point Energy LLC
Five Point Energy is a leading private equity firm focused on
building sustainable businesses within the environmental and water
management, energy infrastructure, and midstream energy sectors.
The firm was founded by industry veterans who have had successful
careers investing in, building and running infrastructure
companies. Five Point seeks to develop infrastructure, water
management, and other midstream solutions that enable the
sustainable, economic production and delivery of energy. Five
Point’s strategy is to acquire and develop in-basin and other real
assets, provide value-added growth capital, and build world-class,
environmentally sustainable companies with premier management teams
and industry-leading E&P partners. Based in Houston, Five Point
has more than $3.5 billion of capital under management across
multiple investment funds. For further information, please visit
www.fivepointenergy.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220909005111/en/
TPL Investor Relations IR@texaspacific.com
WaterBridge NDB LLC scott.mcneely@h2obridge.com
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