The facility will be used for general corporate purposes and to support WaterBridge’s investments in water infrastructure in the Permian Basin in west Texas and the Arkoma Basin in southeast Oklahoma.
Upon closing, WaterBridge and its affiliates have more than $700 million in committed capital, including $500 million from Five Point Energy.
“WaterBridge is pleased to have the support of our banking partners as we continue to grow to meet our customers’ needs,” said Steve Jones, executive vice president and CFO of WaterBridge. “Our revolving credit facility provides us significant resources to continue expanding our leading position in the water management sector.”
The closing of the facility coincides with the company’s fifth acquisition in 2018.
WaterBridge Resources is a fee-based, growth oriented midstream company focused on the water management requirements of oil and gas producers in high-growth basins.