HOUSTON–(BUSINESS WIRE)–H2O Midstream, LLC (H2O Midstream) and EIV Capital, LLC (EIV Capital) are happy to announce the execution of definitive agreements for the sale of H2O Midstream to Delek Logistics Companions, LP (NYSE: NYSE:) (Delek Logistics). H2O Midstream offers gathering, transportation, recycling, storage, and disposal options for produced water in Howard County, Texas.
The acquisition of H2O Midstream by Delek Logistics creates a completely built-in multi-commodity midstream platform within the Midland Basin and represents the belief of our imaginative and prescient that produced water may be managed as a real midstream enterprise, stated Jim Summers, co-founder and CEO of H2O Midstream. This profitable eight-year enterprise was solely attainable due to the unimaginable assist and partnership of EIV Capital and the professionalism and dedication of all H2O Midstream administration and workers, who characterize among the greatest this trade has to supply. I’m excited to welcome this new period for oilfield water administration beneath the succesful management of Delek Logistics.
EIV Capital and H2O Midstream partnered in 2016 to pursue produced water midstream alternatives within the Permian Basin. By way of greenfield growth, natural development and the mixing of a number of strategic acquisitions, H2O Midstream developed a system comprised of 250+ miles of buried pipe, ~4 million barrels of owned and third-party storage, and entry to over 900,000 barrels per day of owned and third-party disposal capability throughout a ~400 sq. mile footprint.
We valued the chance to associate with the H2O Midstream staff as they executed a imaginative and prescient to construct a number one water midstream platform within the Midland Basin, stated David Finan, Managing Accomplice of EIV Capital. We would wish to thank Jim Summers and all the H2O Midstream staff for his or her exhausting work and dedication.
Latham & Watkins served as authorized counsel to H2O Midstream in reference to the transaction.
About H2O Midstream, LLC
Based mostly in Houston, Texas, with a discipline workplace close to Massive Spring, Texas, H2O Midstream is dedicated to decreasing the price of water for producers and bettering environmental and security circumstances via the usage of everlasting infrastructure and interconnected gathering, disposal, storage and re-use amenities. H2O Midstream is funded through a personal fairness dedication from EIV Capital and co-investments from a number of of EIV Capital’s institutional companions. For extra data, go to www.H2Omidstream.com.
About EIV Capital, LLC
Based in 2009, EIV Capital is a Houston, Texas-based non-public fairness agency specializing in offering development fairness to the North American power trade. EIV Capital focuses on investments in companies which create worth via infrastructure, innovation or effectivity. The agency’s administration has intensive expertise main and investing in profitable corporations throughout the power worth chain. For extra data, go to www.eivcapital.com.
View supply model on businesswire.com: https://www.businesswire.com/information/residence/20240806764405/en/
Meredith (NYSE:) Hargrove Howard
Redbird Communications Group
210-737-4478
meredith@redbirdpr.com
Supply: H2O Midstream, LLC
