Deep Blue Midland Basin buys Lagoon Operating – Midland

Deep Blue Midland Basin, a joint venture between Diamondback Energy and Five Point Energy LLC, “announced it has acquired Lagoon Operating – Midland, LLC. This strategic acquisition further solidifies Deep Blue’s position as a key player in sustainable water management in the core of the Midland Basin. The Lagoon assets are located primarily in Martin County and include approximately 105 miles of large diameter pipeline, 240,000 bpd of disposal capacity and 544,000 bpd of additional permitted disposal capacity. Lagoon’s assets significantly expand Deep Blue’s existing recycling capabilities and are underpinned by a strong portfolio of acreage dedications and MVCs from leading producers in the Midland Basin.”