Hunton Andrews Kurth Represents the Conflicts Committee of the Board of Directors of the General Partner of Rattler Midstream LP in Acquisition of Water Midstream Assets

Hunton Andrews Kurth LLP is representing the Conflicts Committee of the Board of Directors of the General Partner of Rattler Midstream LP (Rattler) in its affiliate's $160 million acquisition of water midstream assets from subsidiaries of Diamondback Energy, Inc. The assets subject to the drop down consist primarily of produced water gathering and disposal systems, produced water recycling facilities, and sourced water gathering and storage assets acquired by Diamondback through transactions with QEP Resources, Inc. and Guidon Operating LLC and certain of its affiliates in early 2021.

Rattler owns, operates, develops and acquires midstream and energy-related infrastructure assets. It owns crude oil, natural gas and water-related midstream assets in the Permian Basin that provide services to Diamondback Energy and third-party customers under primarily long-term, fixed-fee contracts.

The Hunton Andrews Kurth team was led by partner Mike O’Leary and assisted by partner Ian Goldberg and associates Alex Miron, Kathleen Dill, and Alexa Williams. Partner Tom Ford and associate Caitlin Scipioni provided tax services.