Oilfield Water Weekly

HUGE news week in water midstream with TCEQ permit updates and big deals and TPWC’s annual report release. Congrats Deep Blue, Five Point, Diamondback and KKR on their blockbuster deal! And there was another M&A deal more quietly announced as well…

Now here is this week’s industry news & analysis.

News Digest

Reuters Reports A Deep Blue Deal Value Of $2.1 Billion

The deal involves an estimated $2.1 billion in consideration for Five Point's stake in Deep Blue, ⁠a source familiar with the matter told Reuters.

Deep Blue CEO Comments On Deal

Diamondback Energy and KKR announced an agreement to jointly acquire Five Point Infrastructure's interest in Deep Blue. Scott Mitchell wrote: "this milestone is pivotal for our company, creating significant opportunity for continued growth and innovation in the Midland Basin."

Diamondback Energy and KKR to Acquire Deep Blue Midland Basin from Five Point Infrastructure

Strategic partnership to support Deep Blue’s continued investment in full-cycle water infrastructure across West Texas

Five Point Infrastructure Announces Sale of Deep Blue Midland Basin to Diamondback Energy and KKR

The sale of Deep Blue reflects an active period of investment, development and monetization for Five Point Infrastructure and its limited partners.

NGL Energy Partners Accepts TCEQ Draft Permit for West Texas Produced Water Treatment

NGL announced yesterday that it has accepted the terms of a draft permit from TCEQ for its produced water treatment project in Reeves County...

Blackbuck Exits Delaware, Sells To Western Midstream

Blackbuck Resources closed the strategic sale of Delaware Basin assets to Western Midstream. This follows the two prior sales of Midland Basin platforms.

2026 Texas Produced Water Consortium Report to the Texas Legislature

This report communicates accomplishments and findings of the Texas Produced Water Consortium’s six research thrusts related to the beneficial reuse of treated produced water generated from oil and gas operations, especially in the Permian Basin.

WATER EARNINGS SEASON: TPL

Texas Pacific water sales decreased in the third quarter of 2026 compared to the second quarter of 2026 due to a decrease in average realized pricing, partially offset by an increase in water sales volumes.

WATER EARNINGS SEASON: WBI

WaterBridge reported record third quarter produced water handling volumes of 2.8 million barrels per day, representing growth of 6% quarter-over-quarter...

WATER EARNINGS SEASON: LB

Delivers record third quarter revenue of $70.9 million, representing growth of 39% year-over-year and 6% quarter-over-quarter

WATER EARNINGS SEASON: WES

Gathered record produced-water throughput in the Delaware Basin of 3,047 MBbls/d, representing a 2-percent sequential-quarter increase.

WATER EARNINGS SEASON: TTI

"The combination of increasing produced water disposal constraints in the Permian Basin and substantial water requirements from data center development has created a significantly larger opportunity than we initially envisioned.'

WATER EARNINGS SEASON: NGL

Record produced water volumes physically disposed of approximately 3.45 million barrels per day during the second quarter of Fiscal 2027, growing 22.9% from the second quarter of Fiscal 2026

WATER EARNINGS SEASON: DKL

Midland Water Gathering System Results consists of volumes of H2O Midstream and Gravity and includes freshwater sales of 15,196 bpd and 84,273 bpd for the three and nine months ended September 30, 2026...

WATER EARNINGS SEASON: KNTK

Executed new and amended gathering and processing agreements in New Mexico and Texas

WATER EARNINGS SEASON: WTTR

Select Water Solutions Announces Third Quarter 2026 Financial, Operational and Strategic Updates

Select Talks About NM Disposal Trends & Pilot Integration

Aaron Horn on why disposal will always be part of the picture in New Mexico, and welcoming Pilot Water Solutions to the Select team.

Great seeing everyone in Houston last week!

B3 Insight Co-Founder & CEO Kelly Bennett delivered a keynote on Produced Water Data Trends, examining how rising formation pressures, evolving disposal constraints and infrastructure investment are reshaping the basin’s water management landscape.

Chevron says it will continue production of about 1 million b/d in Permian Basin

Chevron produces about 1 million barrels per day of oil equivalent in Permian Basin, and Mike Wirth, chairman and CEO, said last week that level will likely stay “for a while.”

San Mateo Midstream to expand infrastructure in northern Delaware Basin

San Mateo Midstream, joint venture of Matador Resources and Five Point Infrastructure, announced agreements for two of its subsidiaries with “a large producer” in northern Delaware Basin.

$2.3 Billion Water Infrastructure Investment Planned Across North Texas

The Tarrant Regional Water District has outlined a $2.3 billion capital improvement programme through 2031, supporting major water infrastructure projects across North Texas.

The real problem is salt.

Aquafortus writeup on beneficial reuse challenges...

TCEQ Responds to Public Concerns about Using Treated Oil and Gas Wastewater on Land

Sierra club writeup on TCEQ discharge review...

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Start Time	Description
8:00 am	private meeting, separate registration required
10:30 am	private meeting, separate registration required
12:00 pm	private meeting, separate registration required
1:00 pm	private meeting, separate registration required
2:00 pm	in the Irving Convention Center exhibit hall (ground floor)
5:00 pm	private meeting, separate registration required
6:00 pm	Texican Court; open to all conference registrants; enjoy drinks, snacks, networking, & live entertainment, sponsored by
7:30 pm
7:30 pm	Invitation only, sponsored by

Start Time	Description
7:45 am
8:30 am	Kickoff sponsor Pete Cook, Managing Partner, Oilfield Water Connection Joseph Triepke, Managing Partner, Oilfield Water Connection
8:40 am	Jorge Corral, Senior Managing Director, Accenture Joseph Triepke, Managing Partner, Oilfield Water Connection
9:00 am	Robert Crain, Executive Vice President, Texas Pacific Water Resources Scott Mitchell, CEO, Deep Blue Jon VandenBrand, Senior Vice President, Western Midstream Bentsen Falb, Managing Director, Raymond James (Moderator)
9:45 am	Ryan Hassler, Vice President, Rystad Energy
10:15 am	Kelly Bennett, Co-Founder & CEO, B3 Insight
10:45 am	exhibit hall refreshments & coffee available throughout the day, coffee sponsored by:
11:15 am	Christian Herrington, Senior Director - Commercial Operations, WaterBridge Hayden McEntire, Senior VP - Integrated Operations and Planning, WaterBridge Taylor Spalla, Partner, Kelly Hart & Hallman LLP (Moderator)
11:45 am	Alex Wylie, CEO, LibertyStream John Gunn, Manager of Emerging Technologies, Bechtel Jinxuan Hu, Vice President Engineered Water Solutions, Select Water Solutions John Durand, CEO, Magnificent Desolation LLC [Moderator]
12:30 pm
1:30 pm	Tyler Milam, Senior Vice President, Kinetik Sean Puryear, CEO, Permian Oilfield Partners Graeme Valentine, Producer, Price Forbes & Partners Tim Carroll, Alliant Insurance Services, Inc. Senior Vice President Jason Schumacher, Partner, O’Melveny & Myers LLP (Moderator)
2:15 pm	Robert Ballantyne, Senior Vice President, RWI Enhanced Evaporation
2:30 pm	Will Bernitsky, Senior Director - Commercial Operations, Bison Water Midstream John Cave, Senior Foreman Water, Expand Energy Matt Tate, VP, Dakota Midstream Bret Sumner, Shareholder, Beatty & Wozniak, P.C. (Moderator)
3:15 pm	Nick Jeffries, Vice President North America, Concept Tanks
3:30 pm	Michael Otto, President, Industrial Process Filtration
3:45 pm	Travis Mosher, President, R.B. Mosher Co. Ted Wooten, Chief Engineer, Railroad Commission of Texas Nathan Alleman, Chief Regulatory Advisor, Ace Energy Advisors Brandon Durrett, Partner, Jackson Walker LLP (Moderator)
4:30 pm	sponsored by
5:30 pm	practice for tomorrow's tournament, play a round, or just hang out and watch and network! the courts will be directly in the convention center this year...
6:30 pm	evening free for client dinners (many options in walking distance near the Irving Convention Center!)

Start Time	Description
8:00 am
9:00 am	Pete Cook, Managing Partner, Oilfield Water Connection Joseph Triepke, Managing Partner, Oilfield Water Connection
9:15 am	Raymond Vaz, Energy Marketing Professional, Devon Energy Vrajesh Mehta, Water Manager, Oxy Luis Baez, Independent [Moderator]
10:00 am	Katie Smye, Principal Investigator, UT Center for Injection and Seismicity Research Vitalis Nzerem, Pressure Mitigation Advisor, ExxonMobil Noah Ahmed, Senior Manager - Strategy & Special Projects, Select Water Solutions Patrick Patton, VP, B3 Insight (Moderator)
10:45 am	exhibit hall refreshments & coffee available throughout the day, coffee sponsored by:
11:00 am	Stephen Cole, Executive VP & Partner, Five Point Energy Joshua Lancaster, Business Development, Delek Logistics John Nesland, Founder & Managing Partner, Baymont Advisors (Moderator)
11:30 am	Barry Barksdale, President, PDS Energy Information Philip Tominac, Sr. Engineer, National Energy Technology Laboratory Joseph Triepke, Managing Partner, Oilfield Water Connection (Moderator)
12:00 pm	main conference ends; post-conference pickleball tournament begins (separate tickets purchased during registration required)
12:05 pm	courts next to exhibit hall with open bar and food provided; open only to conference registrants who sign up for player or spectator passes during online registration
12:15 pm	served at the pickleball courts; open only to conference registrants who sign up for player or spectator passes during online registration
1:00 pm	next to exhibit hall with open bar and food provided; open only to conference registrants who sign up for player or spectator passes during online registration; swag and lessons included plus play for bragging rights and trophy sponsored by Texas Pacific with paddles sponsored by Western Midstream and sweatbands by Patriot Environmental and food and beverages sponsored by River Basin Rentals!
4:00 pm	trophies awarded to winners; conference adjourns

Start Time	Description
10:30 am	Private meeting, separate registration required
12:00 pm	Private meeting, separate registration required
1:00 pm	Private meeting, separate registration required
2:00 pm	In the Irving Convention Center Ballroom
5:00 pm	Private meeting, separate registration required
6:00 pm	Open to all conference registrants; drinks, snacks, entertainment; sponsored by
7:30 pm	Invitation only, sponsored by

Start Time	Description
7:30 am	In exhibit hall
8:15 am	kick-off sponsored by Pete Cook, Oilfield Water Connection Joseph Triepke, Oilfield Water Connection
8:30 am	Ryan Hassler, Rystad Energy
9:00 am	Tracee Bentley, Permian Strategic Partnership [Chair] Ray Perryman, The Perryman Group Karr Ingham, Texas Alliance of Energy Producers Kirk Edwards P.E., Latigo Petroleum
9:45 am	Kelly Bennett, B3 Insight
10:15 am	break sponsor
10:45 am	Brian Bohm, Independent [Chair] Steven Runyan, Coterra Energy John Cave, Expand Energy Chance Freeman, Civitas Resources Tyler Mitchell, Devon Energy
11:30 am	Robert Ballantyne, RWI Enhanced Evaporation
11:35 am	Bentsen Falb, Raymond James [Chair] Nick Patterson, Aris Water Solutions Jon VandenBrand, Western Midstream Zach Neal, Pilot Water Solutions
12:15 pm	With time to visit exhibit hall; Sponsorship available
1:30 pm	Tim Carroll, Alliant Insurance Services, Inc. James Brewins, Price Forbes & Partners Pete Cook, Oilfield Water Connection [Moderator]
1:50 pm	Michael Bodino, Texas Capital Bank
1:55 pm	Jason Schumacher, O’Melveny & Myers LLP
2:15 pm	3 rotations (15-minute each) to join tables hosted by E&P representatives for candid dialog The Facility Of The Future In Produced Water (Steven Runyan, Coterra Energy) Loving/Reeves County Mid- to Long-term Production Assurance & Water Disposal Plans (Kirby Lindsey, Oxy) Land & Water (Chance Freeman, Civitas Resources) Where Does Water Midstream Fit In E&P Portfolios (Tyler Mitchell, Devon Energy) Evaporators & Crystallizers (Paul Hart, Diversified) Beneficial Reuse Public-Facing Strategy (Stuart Mussler, Chevron) Water Reuse & Recycling (John Cave, Expand Energy) Nanotechnology for Subsurface Water Management (Steve Gornick, 9Band Operating)
3:00 pm	In exhibit hall
3:30 pm	Patrick Patton, B3 Insight [Chair] Ted Wooten, Railroad Commission of Texas Annan Pascoe, Deep Blue Water Taylor Sanchez, Diamondback Kirby Lindsey, Occidental Oil & Gas Corporation
4:10 pm	Kieron Jeffries, Concept Tanks
4:15 pm	Casey Lowary, Texas Capital Bank [Chair] Cory Hall, AQT Water Management Dan Montgomery, Bison Water Midstream Stan Berry, S&P Global Commodity Insights Benjamin Johnson, Texas Capital Securities
5:00 pm	Sponsored by
6:30 pm	Evening free for client dinners

💧 News Digest Issue #390