Jackson Walker Represents Deep Blue in Successful Acquisition of Lagoon’s Midland Basin Water Business

June 3, 2024 | Client Results

Jackson Walker successfully represented Deep Blue Midland Basin LLC in the purchase of the Midland Basin operating affiliate of Lagoon Water Solutions. Deep Blue is a joint venture between Diamondback Energy, Inc. and Five Point Energy, LLC, and provides midstream water transportation, disposal, sourcing, recycling, enhanced evaporation and desalination services to Midland Basin producers.

The acquisition consisted of the purchase of Lagoon Operating – Midland, LLC, a produced water pipeline transportation, disposal, and reuse company with assets in Martin and Midland Counties, Texas.

Jackson Walker partners Patrick Knapp, Chelsea T. Wood, and Mario Perez Dolan led the team including Sami Landon, Daniel Lewis, Nathan McCune, Benjamin R. Rhem, Brandon E. Durrett, Ann M. Leafstedt, Shari Y. Mao, David Schlottman, Aaron Pinegar, and Edwin Buffmire.

For more information about the deal, view Deep Blue’s press release and Hart Energy’s “Diamondback, Five Point JV Buys More Midland Water Infrastructure.” Please note a subscription is required to read the full article.

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Since Jackson Walker’s founding in 1887, our attorneys have represented some of the most influential companies and business leaders in the world. Today, we remain firmly rooted in Texas while serving clients around the globe. With more than 500 attorneys across six offices, we are the largest firm in the state and have been recognized by Law360 as a “Texas Powerhouse” and an “elite law firm” that regularly provides counsel to industry-leading clients on highly complex transactions ranging from millions to billions. To explore the Firm’s experience in mergers, acquisitions, dispositions, joint ventures, and other strategic alliances, visit the Corporate & Securities practice page.

In This Story

Edwin Buffmire
Partner, Dallas

Mario Perez Dolan
Partner, Dallas

Brandon Durrett
Senior Counsel, San Antonio

Samantha “Sami” Landon
Associate, Dallas

Ann M. Leafstedt
Partner, San Antonio

Daniel Lewis
Associate, Dallas

Shari Y. Mao
Partner, San Antonio

Nathan McCune
Senior Counsel, Fort Worth

Aaron Pinegar
Partner, Dallas

Benjamin R. Rhem
Partner, Austin

David Schlottman
Partner, Dallas

Chelsea T. Wood
Partner, Fort Worth