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The Race to Manage Permian Water; Companies Ramp Up
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Last year, we pointed to a dramatic rise in the number of water disposal permits filed in the state of Texas, particularly the Delaware and Midland Basins. Fast-forward to 2H19, the industry beginning to take notice of the trend and how that could put pressure on Permian operators.
Earlier this year, Pioneer Natural Resources pointed to the dramatic rise as a growing problem for Delaware Basin operators.
In order to combat this, a number of deals involving water assets have been struck in the Permian in recent months (see chart below):
November 6, 2019: Gravity acquires Midland-focused On Point August 22, 2019: H2O Midstream acquires Midland water assets from Sabalo June 5, 2019: Gravity Oilfield Services acquires Permian water assets from Pyote Water SystemsMay 14, 2019: NGL Energ…
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