UL Water Midstream, a partnership comprising the H2O Midstream and Layne Water Midstream water businesses, has added a new strategic equity partner.
In January, ULWM signed a long-term contract with University Lands to serve as the exclusive preferred water services provider in three counties spanning 167,000 acres of University Lands in the Delaware Basin.
University Lands manages the surface and mineral interests of 2.1 million acres of land across 19 counties in West Texas for the benefit of the Permanent University Fund, according to ULWM.
According to ULWM, H2O Midstream and Layne Water Midstream will retain joint control of ULWM with the strategic and financial support of its sponsors, EIV Capital LLC, Genesis Park LP and Post Oak Energy Capital, along with the new strategic partner.
