Kinetik and WaterBridge to Join the Permian Strategic Partnership in 2022
Midland, TX (Sept. 15, 2022) — The Permian Strategic Partnership (PSP) announced today the addition of two new companies, Kinetik and WaterBridge, bringing their member company count to 19.
“We are thrilled to welcome Kinetik, WaterBridge and their respective board members Matt Wall and Jason Long to our team,” said Tracee Bentley, President and CEO of the PSP. “These companies bring tremendous talent and passion for the Permian Basin to the table. They are joining the PSP at a time when we have seen transformational initiatives in our three short years. We continue to look forward to maintaining our momentum and making lasting impacts across the Permian Basin together.”
Adding these two new members will help PSP continue its vital work to improve the quality of education, workforce development, healthcare, and road safety in the Permian Basin.
“We are excited to join PSP and support its mission of developing initiatives that strengthen local communities and improve the quality of life in the Permian Basin. PSP is a phenomenal vehicle to pool resources and allow our industry to collaborate with local governments, community organizations and citizens to implement targeted solutions to our region’s most critical needs, including public education, infrastructure, and healthcare.” said Matt Wall COO of Kinetik. “We believe it is our responsibility to invest in the Permian Basin communities in which we work and live. Joining PSP is the most effective way for our Company to put this belief into action.”
Since its inception, PSP has helped to transform $106 million in member contributions into $950 million in community-led investments. This is a significant achievement, and it would not have been possible without the support of PSP members. By pooling their resources, PSP members have leveraged their investment power to create real and lasting change in their communities.
“WaterBridge is thrilled to join industry leading upstream and midstream operators in the Permian Strategic Partnership”, said Jason Long, Co-CEO and COO of WaterBridge. “PSP’s mission of improving the quality of life for Permian Basin residents directly aligns with WaterBridge’s commitment to enhancing the communities in which we operate. We look forward to collectively building on the already impressive list of PSP’s accomplishments going forward.”
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. The company is headquartered in Midland, Texas and has a significant presence in Houston. Kinetik provides comprehensive gathering, transportation, compression, processing, and treating services for companies that produce natural gas, NGL, crude oil and water.
WaterBridge Resources LLC is a portfolio company of Five Point Energy that develops, owns and operates permanent, integrated water infrastructure networks to address the long-term produced water management requirements of E&P companies. The company owns integrated produced water pipeline and disposal systems in the southern Delaware Basin in West Texas and the Arkoma Basin in southeastern Oklahoma.
About the Permian Strategic Partnership
PSP is a coalition of 19 leading Permian Basin energy companies who joined together to work in partnership with leaders across the region’s communities to address current and future challenges to the responsible development of the vast oil and natural gas resources of the Permian Basin in New Mexico and Texas. PSP member companies include: Apache, BPX Energy, Chevron, ConocoPhillips, Coterra Energy, Devon, Diamondback, Endeavor, EOG Resources, ExxonMobil, Halliburton, Kinetik, Occidental, Ovintiv, Permian Resources, Pioneer Natural Resources, Plains All American, Schlumberger, and WaterBridge.