XRI Holdings, a water midstream company with owned infrastructure throughout the Permian Basin, has acquired the water treatment and recycling division of Fountain Quail Energy Services.
The consideration for the transaction consisted of cash and equity, but specific terms of the deal were not disclosed.
Fountain Quail Water Treatment is a produced water treatment, recycle, and reuse business with operations throughout the Permian Basin and other key producing basins across the United States.
“This acquisition will enhance XRI’s owned network of water midstream systems with full recycle and reuse capabilities that set the standard for flexibility and sustainability for water used in advanced completion techniques in the Permian Basin,” stated John Durand, XRI’s president.
