UL Water Midstream has added a new strategic equity partner that will provide further alignment with University Lands along with additional capital to fuel the continued growth of ULWM.

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Image: UL Water Midstream announces new strategic investment commitments. Photo: Courtesy of Akshay93 from Pixabay.

The original ULWM partners, H2O Midstream LLC and Layne Water Midstream LLC will retain joint control of ULWM with the strategic and financial support of its sponsors, EIV Capital LLC, Genesis Park LP, Post Oak Energy Capital LP, along with the new Strategic Partner.

In January 2019, ULWM signed a long-term contract with University Lands to serve as the exclusive preferred water services provider on 167,000 acres located in Ward, Winkler and Loving counties in the Delaware Basin to develop and operate water infrastructure on the University Lands acreage.  University Lands manages the surface and mineral interests of 2.1 million acres of land across nineteen counties in West Texas for the benefit of the Permanent University Fund.

Stephen McNair and Byron Bevers, the President of UL Water Midstream and Vice President of UL Water Midstream, respectively, jointly stated, “This new strategic investment facilitates ULWM growth organically and through acquisitions.  The support of all of our investors demonstrates the importance of the development of water infrastructure across the Delaware Basin.”

Source: Company Press Release.