Nov. 01–Oil and gas driller Halcón Resources is selling its West Texas water infrastructure for $325 million.
The Colorado-based company’s water resources in the Permian Basin included dozens of miles of pipes, production capacity of at least 100,000 barrels of water a day and nearly 8 million barrels of freshwater and produced or recycled water storage.
The sale was made to a private buyer and is expected to close before the end of 2018.
Included in the deal are water recycling facilities totaling 170,000 barrels of water a day. Oil and gas companies in the Permian have been turning to recycling in order to reuse water and reduce costs. Water is a key ingredient in hydraulic fracturing, or fracking, mixing with sand and chemicals to crack shale that contains oil and gas.
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