# Deep Blue Midland Basin acquires Lagoon Operating in Midland Basin

Deep Blue Midland Basin LLC, a joint venture between Diamondback Energy and Five Point Energy, acquired Lagoon Operating – Midland, LLC. The acquisition adds approximately 105 miles of pipeline and 240,000 bpd of disposal capacity in Martin County, Texas.

- Type: Acquisition
- Announced: 2024-06-03
- Where: Martin County, Midland Basin, Texas, United States
- Status: completed
- Capacity: 240,000 bpd disposal capacity; 544,000 bpd additional permitted disposal capacity
- Products: water management services, produced water disposal, pipeline infrastructure
- Sectors: [Water Treatment Equipment](https://endata.com/sectors/water-treatment-equipment.md)

## Companies

- [Diamondback Energy](https://endata.com/companies/33757.md) (investor)
- [Deep Blue Midland Basin LLC](https://endata.com/companies/77808.md) (acquirer)
- [Five Point Energy LLC](https://endata.com/companies/77809.md) (investor)
- [Lagoon Operating – Midland, LLC](https://endata.com/companies/77810.md) (target)

## Sources

- [nasdaq.com](https://www.nasdaq.com/press-release/deep-blue-midland-basin-llc-acquires-lagoon-operating-midland-llc-2024-06-03), 2024-06-03: "The acquisition of Lagoon brings together complementary water systems that expand our footprint and unlock synergies across the broader business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.