February 7, 2019
Blackstone Energy Partners LP has formed Waterfield Midstream, a Permian Basin-based provider of water management services, including water gathering, treatment, recycling and disposal. With an equity investment of $500 million, Waterfield will pursue greenfield development and acquisitions of water-related infrastructure, helping producers minimize the environmental impact and operating cost of oil and gas production.
Scott Mitchell and Mark Cahill will serve as co-CEOs of Waterfield. Both men were involved in building and leading Anadarko’s and Western Gas’s Permian Basin commercial water infrastructure platform.
“We believe that Waterfield addresses a critical need of producers in the Permian Basin both in terms of infrastructure and quality of service,” said Erik Belz, principal at Blackstone. “Waterfield’s subsurface capabilities and engineering track record set it apart from other offerings in the market.”
Blackstone is one of the world’s leading investment firms, with $472 billion in assets under management. Blackstone Energy Partners is Blackstone’s energy-focused private equity business. Globally, Blackstone has invested and committed approximately $16 billion of equity within the energy industry.
Connect Houston is taking place on February 26, 2019. For more information — or to attend — click here.
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