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DEAL CANCELLED: PE-Backed Company Walks Away From $225 Million Water Deal

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   |    Monday,May 18,2020

Centennial Resource Development's sale of saltwater disposal wells and associated produced water infrastructure located primarily in Reeves County, Texas to a subsidiary of WaterBridge Resources LLC has been terminated.

This cancellation occurred after WaterBridge failed to close the transaction on or before 5:00 pm Mountain Time on May 15, 2020.

Pursuant to the terms of the purchase and sale agreement, Centennial believes it has a right to receive the $10 million purchase price deposit, which is currently held in escrow.




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