Five Point Energy-backed NGL Energy Partners has acquired around 44 miles of saltwater pipeline and Five disposal wells from Permian Basin driller Concho Resources . The deal, whose terms were not revealed, will see WaterBridge oversee all water transportation and removal within an 800,000-acre area in Reeves ' Reeves, Pecos and Ward counties. Set up in December 2015, WaterBridge has the backing of Texas-based private equity firm Five Point Energy. It follows similar agreements made last year with Halcon Resources and NGL Energy Partners .
Five Point Energy-backed NGL Energy Partners has acquired around 44 miles of saltwater pipeline and Five disposal wells from Permian Basin driller Concho Resources . The deal, whose terms were not revealed, will see WaterBridge oversee all water transportation and removal within an 800,000-acre area in Reeves ' Reeves, Pecos and Ward counties. It follows similar agreements made last year with Halcon Resources and NGL Energy Partners .