H2O Midstream, LLC and EIV Capital, LLC have announced the execution of definitive agreements for the sale of H2O Midstream to Delek Logistics Partners, LP. H2O Midstream, based in Howard County, Texas, specialises in gathering, transportation, recycling, storage, and disposal solutions for produced water.
Jim Summers, co-founder and CEO of H2O Midstream, remarked, “The acquisition of H2O Midstream by Delek Logistics creates a fully integrated multi-commodity midstream platform in the Midland Basin and represents the realisation of our vision that produced water can be managed as a true midstream business. 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.”
H2O Midstream and EIV Capital partnered in 2016 to explore produced water midstream opportunities in the Permian Basin. Through greenfield development, organic growth, and strategic acquisitions, H2O Midstream built a comprehensive system comprising over 250 miles of buried pipeline, approximately 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.
David Finan, managing partner of EIV Capital, stated, “We valued the opportunity to partner with the H2O Midstream team as they executed a vision to build a leading water midstream platform in the Midland Basin. We’d like to thank Jim Summers and the entire H2O Midstream team for their hard work and dedication.”
The acquisition by Delek Logistics marks a significant step in integrating water midstream operations with broader midstream services in the Midland Basin, promising enhanced operational efficiencies and expanded capabilities.
For more information visit www.h2omidstream.com
