[Context: On August 22, TPH Partners-backed EnWater Solutions announced its acquisition by Five Point Capital’s WaterBridge Resources. Terms were not disclosed. Further details and related links are below.]

Waterbridge Resources Acquires EnWater Solutions
WaterBridge Continues to Establish Itself as the Premier Water Midstream Provider in the Delaware Basin, with an Integrated Full-Cycle System
HOUSTON, Aug. 22, 2017 /PRNewswire/ — WaterBridge Resources, LLC (“WaterBridge”) announced today the acquisition of EnWater Solutions, LLC (“EnWater”), a leading produced water gathering and disposal company in the southern Delaware Basin.  WaterBridge plans to expand the existing gathering business into a full-cycle, closed-loop water infrastructure system that offers regional producers an integrated, all-in-one array of water supply and management solutions.
Located in Reeves County and Pecos County, Texas, EnWater’s current assets include five saltwater disposal wells with over 100 miles of interconnected gathering pipeline and nearly 150,000 barrels per day of permitted disposal capacity.  By year-end 2018, WaterBridge expects to reach more than 300,000 barrels per day of total disposal capacity and 200 total miles of interconnected pipeline for gathering.
Steve Johnson, Founder & Chief Executive Officer of WaterBridge, said, “The acquisition of EnWater Solutions provides an ideal platform to further implement and execute our vision of becoming a full-service integrated water midstream company.  The EnWater team has developed a first-class business, strategically positioned in the core of one of the most economic oil- and gas-producing regions in the United States.  Looking ahead, we see abundant opportunities to continue to serve and partner with strong local producers, as we endeavor to establish WaterBridge as the premier water midstream provider in the Delaware Basin.”
In addition to expanding the produced water gathering and disposal systems acquired through this transaction, WaterBridge is focused on providing production companies with a full suite of water midstream services.  In particular, WaterBridge anticipates adding high-deliverability water supply, including recycled produced water, in response to market demand and in accordance with its customers’ specifications.
David Capobianco, CEO and Managing Partner of Five Point Capital Partners, said, “WaterBridge’s acquisition of EnWater perfectly aligns with Five Point’s strategy to develop and invest in permanent infrastructure solutions to handle water needs of oil and gas operators.  Our partnership with the WaterBridge team has been a great success, and we are pleased to provide continued support as the team executes on exciting new opportunities in the Delaware Basin.”
In connection with the closing of the acquisition, certain members of EnWater’s executive team, including Jason Long, Michael Reitz, and Cody Allen, will join WaterBridge to support the future growth of this newly combined midstream platform.
Jason Long, President of EnWater, said, “We are excited to join the WaterBridge team.  This partnership, along with the strategic and financial support from WaterBridge and its equity partner, Five Point Capital Partners, will enable us to build large-scale infrastructure systems that efficiently handle the rapidly growing water management needs of both current and future customers.”
About WaterBridge Resources, LLC
WaterBridge Resources is a midstream development company focused on developing, acquiring and operating large-scale water infrastructure for oil and gas producers, including water sourcing, gathering and distribution pipelines, treating, recycling, separation, and disposal infrastructure solutions.  WaterBridge is led by Stephen Johnson, John Durand and Andy Stephens, and is supported by equity commitments from Five Point Capital Partners.
About Five Point Capital Partners LLC
Five Point Capital Partners is a private equity firm focused on midstream energy infrastructure and energy sector investments across North America. Five Point’s investment strategy is to partner with, develop and support strong management teams through buyouts and growth capital investments within the midstream energy sector.  Based in Houston, Texas, Five Point is currently investing from Five Point Capital Midstream Fund II L.P. and manages more than $1.0 billion of investor capital.
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