RRIG Water Solutions buys 475-mile pipeline in Permian Basin
Texas-based RRIG Energy subsidiary RRIG Water Solutions has bought a pipeline located in the Eastern Delaware Basin from Oilfield Water Logistics.
The 475-mile pipeline could transport more than 2.3 million barrels of water per day for oil and gas operations in the Permian Basin.
This purchase expands RRIG Water Solutions' water capabilities in the Permian Basin.
Financial terms of the deal were not disclosed.
RRIG Water Solutions president Stratton Haley said: "RRIG Water Solutions understands that the most expensive water in the oil patch is the water that never arrives. With that in mind, we are committed to investing in pipeline infrastructure to improve access to large volumes of water throughout the Permian Basin.
"By delivering water to large central facilities and directly to well pads through pipelines instead of relying on trucks, we are doing our part to help producers lower drilling and completion costs, raise operational efficiency, and improve health, safety and environmental conditions in the oilfield."
RRIG Water Solutions is one among several pipeline buyers in the Permian Basin amid a drilling rebound due to increased oil prices.