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PE-backed Waterbridge Acquires Centennial Water Infrastrucure for $225 Million

Announced Date
February 24,2020
Deal Value $
225,000,000
Transaction Type
Asset
Buyer
Seller
Source Documents:
   Source Link
   Source Link
Location
Region
Permian - Delaware Basin

Country
United States

State
Texas

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Transaction Details: 

This deal was terminated on May 15, 2020

Centennial Resources announced that it is selling its water business for $225 million to Five Point backed-Waterbridge Resources.  

Waterbridge has been on a buying spree, this marks the seven (7) transactions for the company over the last few years.   Sellers includes (PDC, Halcon, EnWater, NGL, Jetta and more) click here to get a list of Waterbridge deals

"We will continue to see a flury of water infrastructure deals through the remainder of this year", said Rons Dixon CEO of Shale Experts.  He also said "The big question remains through, are operators trading short-term cash for longer term increasing in operating cost, only time will tell"

 

Water Infrastructure Deal Flow : Shale Experts Oilfield Water Database


David Capobianco, CEO of Five Point Energy and Chairman of the Board of WaterBridge, said "In 2016, Five Point Energy funded the formation of WaterBridge with a well-defined strategy of being a first mover in progressively addressing the produced water needs of the Permian Basin. With the addition of Centennial's produced water handling assets to WaterBridge's network, the company has expanded the capabilities of its system and firmly established itself as the largest pure play water midstream company in the industry." Mr. Capobianco continued, "The capacity and redundancy offered by our systems will continue to be instrumental in supporting current and future customers' development programs in the Southern Delaware Basin."

Jason Long, Co-President and COO of WaterBridge stated, "Today's announced transaction represents another key milestone for WaterBridge, further validating our unique value proposition and industry leading platform. Centennial has been an important partner to us from the very beginning and is widely regarded as one of the best operators in the Permian. We are very excited to grow our relationship to handle all of Centennial's Southern Delaware produced water."

 

source : CDEV via Shale Experts Presentation Manager

Permian - Delaware Basin Deal Activity In Last 12 Months



Other Permian - Delaware Basin Region's Deals



Announced DateBuyerSellerDeal Value($mm)LocationCategory
Feb-26-2020 - - Click here Texas  Midstream
Dec-20-2019 - - Click here Texas  Midstream
Nov-15-2019 - - Click here Texas  Midstream
Aug-01-2019 - - Click here New Mexico  Midstream
May-14-2019 - - Click here   Midstream

Other WaterBridge Resources LLC Deals



Announced DateBuyerSellerDeal Value($mm)LocationCategory
Dec-20-2019 - - Click here Texas  Midstream
May-08-2019 - - Click here Texas  Midstream
Dec-20-2018 - - Click here Texas  Midstream
Oct-31-2018 - - Click here Texas  Midstream