WHAT IS A WATERFIELD?
The term "oilfield" has been used for decades to describe a region of oil production, along with the associated infrastructure and workforce. The Permian Basin is one of the world's most prolific oilfields. However, in addition to being a prolific oilfield, the Permian Basin can also be called a prolific “waterfield” because of the vast volumes of water, water-related infrastructure, and expertise needed to manage development operations.
ABOUT WATERFIELD MIDSTREAM
Waterfield Midstream was formed in June 2018 in partnership with Blackstone Energy Partners, with an equity commitment of $500MM.
Waterfield Midstream provides midstream solutions for water management challenges in the Permian Basin.
At Waterfield Midstream, we are geologists, petroleum engineers, facilities engineers, commercial experts, and infrastructure operators. We have designed, built, and operated some of the most extensive water infrastructure in the oil and gas industry.
We recognize that when it comes to water, being an expert in the subsurface is every bit as important as being an expert on the surface. Our upstream roots uniquely qualify us to mitigate the subsurface challenges of water injection and production. Our midstream experience enables us to develop efficient and scalable infrastructure solutions. We take a long-term approach to water midstream with a focus on emerging technologies that have the potential to create meaningful change in the industry.
Simply put, our intent is to bring an unprecedented level of expertise to bear on industry’s water challenges. In doing so, we will provide low cost, reliable, and sustainable water solutions to our upstream partners for decades to come.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $472 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Follow Blackstone on Twitter @Blackstone.