XLE & Oil

Diamondback and KKR expand Permian water investment with Deep Blue acquisition

Oil & Gas 360·Nov 10, 2026 · 3:30 PM CT
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Readthrough summary

Diamondback Energy and KKR agreed to buy Five Point Infrastructure's 70% stake in Deep Blue Midland Basin, a Permian water infrastructure business, in a deal Reuters' source valued at about $2.1 billion. Afterward Diamondback and KKR will each own 50%, with closing expected in the fourth quarter.

Summary written by Readthrough from the original article. The full story, with photos and any updates, is at Oil & Gas 360.

Read the original at Oil & Gas 360

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