Diamondback Energy Reshapes Midland Basin Portfolio with Dual Water and Midstream Moves

Diamondback Energy announced two major Midland Basin transactions today: the $750M sale of Environmental Disposal Systems to Deep Blue, nearly doubling Deep Blue’s water infrastructure scale, and the $500M sale of its 27.5% stake in EPIC Crude Holdings to Plains All American Pipeline. Together, the moves highlight Diamondback’s strategy of recycling midstream capital while reinforcing its long-term focus on Permian development and sustainable water management.

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Cotera Energy CEO Tom Jorden on Oil Prices, Permian Growth, and the Future of Gas

Coterra Energy is positioned for resilience in oil & gas cycles, with balanced production and diversified assets. Jorden sees near-term oil price risk to the downside, making gas infrastructure and in-basin consumption (like data centers) increasingly important. Key challenges ahead include water management, regulatory reform, and sustaining operational excellence while navigating market volatility.

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