Diamondback Energy and KKR have agreed to jointly acquire Five Point Infrastructure's 70% stake in Deep Blue Midland Basin, giving them full ownership of the leading water infrastructure platform in the region. Deep Blue provides comprehensive water lifecycle services critical for oil and gas operations, including sourcing, transportation, storage, recycling, and disposal. This acquisition secures reliable water management for Diamondback's operations and positions the partnership for growth and expansion into new industrial uses in West Texas. The deal is expected to close in Q4 2026, pending regulatory approvals.
Diamondback Energy Inc, involved in the acquisition, trades at USD 176.50 on Pluang with a 0.94% decline in the last day. The stock holds a market cap of $49.74 billion and a dividend yield of 2.65%. These figures are current as of Nov 10, 2026 18:51 WIB.
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