M&A Deal Summary

WaterBridge Acquires NGL Energy Partners - Water Infrastructure Assets

On December 20, 2018, WaterBridge acquired infrastructure company NGL Energy Partners - Water Infrastructure Assets from NGL for 239M USD

Acquisition Highlights
  • This is WaterBridge’s 2nd transaction in the Infrastructure sector.
  • This is WaterBridge’s largest (disclosed) transaction.
  • This is WaterBridge’s 3rd transaction in the United States.
  • This is WaterBridge’s 1st transaction in Delaware.

M&A Deal Summary
Date 2018-12-20
Target NGL Energy Partners - Water Infrastructure Assets
Sector Infrastructure
Buyer(s) WaterBridge
Sellers(s) NGL
Deal Type Divestiture
Deal Value 239M USD

Target

NGL Energy Partners - Water Infrastructure Assets

Delaware, United States
NGL Energy Partners LP - Water Infrastructure Assets includes ~10 miles of pipeline in southern Reeves and Ward counties.

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Buyer(S) 1

Buyer

WaterBridge

Houston, Texas, United States
Category Company
Sector Infrastructure
DESCRIPTION

WaterBridge develops, owns and operates permanent, integrated water infrastructure networks to address the long-term produced water management requirements of its blue-chip customer base under long-term, fee-based contracts. WaterBridge is based in Houston, Texas.

DEAL STATS #
Overall 3 of 5
Sector (Infrastructure) 2 of 2
Type (Divestiture) 2 of 4
State (Delaware) 1 of 1
Country (United States) 3 of 5
Year (2018) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 Halcón Resources - Water Infrastructure Assets

Houston, Texas, United States

Halcón Resources Corp. - Water Infrastructure Assets includes ~60 miles of water gathering pipelines, 75,000 gross acre position, and any additional acreage within a ~ 209,000-acre area of mutual interest ("AMI") in Pecos, Reeves, Ward, and Winkler counties, Texas.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-03 Concho Resources - Produced Water Assets

Midland, Texas, United States

Concho Resources, Inc. - Produced Water Assets include three disposal wells with 45,000 bpd of permitted capacity and approximately 44 miles of pipeline.

Buy -

Seller(S) 1

SELLER

NGL

Tulsa, Oklahoma, United States
Category Company
Founded 1940
Sector Energy Services and Equipment
Employees842
Revenue 7.0B USD (2024)
DESCRIPTION

NGL operates a vertically integrated energy business with three operating segments: midstream, wholesale supply and marketing, and retail propane. NGL was founded in 1940 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 4 of 4
Sector (Infrastructure) 1 of 1
Type (Divestiture) 3 of 3
State (Delaware) 1 of 1
Country (United States) 4 of 4
Year (2018) 3 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 NGL Energy Partners - Water Solutions Bakken

Tulsa, Oklahoma, United States

NGL Energy Partners LP - Water Solutions Bakken operations include five saltwater disposal wells located in McKenzie and Dunn Counties, North Dakota. The Water Solutions segment provides services for the treatment and disposal of wastewater generated from crude oil and natural gas production and for the disposal of solids such as tank bottoms and drilling fluids and performs truck and frac tank washouts. In addition, the Water Solutions segment sells the recovered hydrocarbons that result from performing these services.

Sell $91M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-30 DCP Midstream - Gas Supply Resources

Denver, Colorado, United States

DCP Midstream LLC - Gas Supply Resources consisting of seven natural gas liquids terminals in the Eastern United States

Buy -
Mergr

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