Delek Logistics adds over 250 miles of buried Permian assets with H20 Midstream acquisition
(UI) – H2O Midstream and EIV Capital announced the the sale of H2O Midstream to Delek Logistics Partners. H2O Midstream provides gathering, transportation, recycling, storage, and disposal solutions for produced water in Howard County, Texas.
EIV Capital and H2O Midstream partnered in 2016 to pursue produced water midstream opportunities in the Permian Basin. Through greenfield development, organic growth and the integration of several strategic acquisitions, H2O Midstream developed a system comprised of 250+ miles of buried pipe, ~4 million barrels of owned and third-party storage, and access to over 900,000 barrels per day of owned and third-party disposal capacity across a ~400 square mile footprint.
“The acquisition of H2O Midstream by Delek Logistics creates a fully integrated multi-commodity midstream platform in the Midland Basin and represents the realization of our vision that produced water can be managed as a true midstream business,” said Jim Summers, co-founder and CEO of H2O Midstream.
“This successful eight-year venture was only possible thanks to the incredible support and partnership of EIV Capital and the professionalism and dedication of all H2O Midstream management and employees, who represent some of the best this industry has to offer. I am excited to welcome this new era for oilfield water management under the capable leadership of Delek Logistics.”
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