Denver-based Centennial Resource Development has terminated the planned sale of its saltwater disposal wells and associated water infrastructure after the buyer, a subsidiary of WaterBridge Resources, failed to close the transaction by the agreed deadline.
The assets were located primarily in Reeves County, Texas.
Centennial Resource Development an independent oil and natural gas company focused on development in the Delaware Basin, a sub-basin of the Permian Basin in West Texas. The Permian Basin is the most prolific oil producing area in the United States, according to the U.S. Energy Information Administration.
Centennial has around 80,100 net acres in the Delaware Basin, and owns 2,400 drilling locations.