Five Point Infrastructure Announces Sale of Deep Blue Midland Basin to Diamondback Energy and KKR
HOUSTON--(BUSINESS WIRE)--Five Point Infrastructure LLC (“Five Point”) today announced that it has entered into a definitive agreement to sell its majority interest in Deep Blue Midland Basin LLC (“Deep Blue”), a produced-water infrastructure platform serving the Midland Basin, to Deep Blue’s current minority owner, Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), and KKR, for cash consideration. The sale of Deep Blue reflects an active period of investment, development and monetization