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Latham & Watkins Advises WaterBridge NDB in the Strategic Partnership With Devon Energy

August 9, 2023
Firm advises on the strategic Delaware Basin produced water partnership.

WaterBridge NDB LLC (together with its subsidiaries, WaterBridge NDB), a portfolio company of Five Point Energy LLC (Five Point), announced the formation of NDB Midstream LLC, a strategic partnership with WPX Energy Permian, LLC (Devon), a subsidiary of Devon Energy Corp. (NYSE: DVN). The partnership between two technical leaders, WaterBridge NDB within the produced water handling sector and Devon with 50-plus years of innovation in oil and gas, yields the largest private water infrastructure system in the prolific Stateline region of the Delaware Basin in Loving County, Texas and Lea and Eddy counties in New Mexico.

Latham & Watkins LLP represents WaterBridge NDB in the transaction with a corporate deal team led by Houston partner Lauren Anderson, with assistance from associates John Daywalt, Corynn Wilson, Josh Blankenship, and Jameson Miller. Advice was also provided on tax matters by Houston partner Tim Fenn, with associate Dominick Constantino; on employee benefits matters by Washington, D.C. partner Adam Kestenbaum; on structuring matters by New York partner David Hammerman; on antitrust matters by Washington, D.C. partner Jason Cruise and Washington, D.C. counsel Peter Todaro and Britton Davis, with associate Doug Tifft.