XRI Holdings, LLC (“XRI”), the leading full-cycle water management and water midstream company, announced today its 10-year preferred water service provider agreement with University Lands (“UL”) covering over 300,000 acres in the Southern Midland Basin.
Located in Upton, Reagan, and Crockett Counties of Texas, this acreage position significantly enhances XRI’s asset footprint and will provide XRI with greater access to and mobility of its existing assets in the area. In particular, the UL acreage will increase XRI’s effective treating and recycling capabilities to further advance its customers’ sustainability goals and ESG initiatives.
“We’re thrilled with this acreage position,” stated Matt Gabriel, chief executive officer of XRI. “Partnering with UL further augments XRI’s leading position in the Midland Basin in terms of full-cycle water management with our existing and prospective customers.”
XRI is currently recycling more than 400,000 barrels per day in the Permian Basin and anticipates further growth in the coming months as a result of the UL partnership.
UL manages the mineral, surface, and water rights for approximately 2.1 million acres of land across nineteen counties in West Texas for the benefit of the Permanent University Fund (PUF). UL’s concern for the conservation of regional water resources was an important consideration in awarding the water management contract to XRI which has a particular expertise in oilfield water recycling.
The PUF is one of the largest university endowments in the United States and benefits more than twenty educational and health institutions across both The University of Texas System and Texas A&M University System.
Headquartered in Houston, TX, XRI is the leading full-cycle water management and produced water midstream company with advanced water treatment technologies and recycling frameworks. XRI operates over 300 miles of permanent, large-diameter pipelines, with an aggregated system capacity to run approximately one million barrels per day. XRI is revolutionizing the water midstream industry by focusing on the recycling of produced water, reducing industry reliance on saltwater disposal and potable water sources, and by engaging in and providing ESG-focused solutions for the benefit of all stakeholders. XRI is a portfolio company of Morgan Stanley Energy Partners. For more information, please visit xrifq.com.
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