Texas Pacific Land, WaterBridge Form Delaware Basin Water Alliance
Texas Pacific Land Corp. (TPL) and WaterBridge NDB LLC have formed a partnership to focus on sustainable oil and gas development on over 64,000 acres in Loving and Reeves County in the core of the Delaware Basin.
The agreement enables TPL and WaterBridge to provide full-cycle water solutions to customers throughout an expansive, defined region around the Stateline area by facilitating infrastructure and water services development and asset optimization.
“WaterBridge shares our vision for land and water resource management, and this agreement will expand the scale and efficiency of TPL’s water business while also supporting oil and gas development across our royalty acreage,” said Tyler Glover, CEO of TPL. “Importantly, this will further optimize water disposal well spacing, which is paramount considering recent regulatory curtailment initiatives. This alliance is critical towards serving our customers and operators across an enormous land position in the core of the Delaware Basin, which ultimately benefits TPL shareholders and other key stakeholders.”
The combined land positions of TPL and WaterBridge provide unrivaled access to a vast development area for each company. TPL will deliver its source water capabilities across an underutilized developmental area, and WaterBridge will expand its produced water management and infrastructure operations. In addition, TPL and WaterBridge are developing next-generation, sustainability-focused disposal and reuse solutions.
“We are excited to join with TPL to provide best-in-class water solutions to our customers and accelerate responsible oil and gas development. This alliance covers a region of the Delaware Basin that offers some of the most attractive drilling opportunities in North America and that has to-date been largely underutilized for large-scale development,” Jason Long, Co-CEO of WaterBridge, said.
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