Deep Blue Midland Basin LLC Acquires Environmental Disposal Systems, LLC from Diamondback Energy, Inc.
1. Diamondback Energy acquires EDS, enhancing its water management capabilities. 2. The deal valued at $750 million significantly grows Deep Blue's scale. 3. Diamondback maintains a 30% equity in Deep Blue post-acquisition. 4. The acquisition is expected to optimize water recycling and operational efficiencies. 5. Deep Blue becomes the largest independent water platform in Midland Basin.