Simpson Thacher is representing KKR, a leading global investment firm, in its agreement with Diamondback Energy, Inc. (“Diamondback”) to jointly acquire Five Point Infrastructure’s 70% stake in Deep Blue Midland Basin LLC (“Deep Blue” or the “Company”), the leading full-cycle water infrastructure platform in the Midland Basin. Following the transaction, Diamondback and KKR will jointly own 100% of Deep Blue, building on Diamondback’s existing 30% ownership interest.
The Simpson Thacher team includes Shamus Crosby, Breen Haire, David Bumgardner, Denny Lee, John Brannan, Surya Banerjee, Jacob Bryant, Andrew Waldeck and Nima Mohammadi (Energy & Infrastructure); Brian Steinhardt, Patrick Wolff, Callie Robins, Sophie Skinner and Francisca Johanek (Banking & Credit); Nathan Utterback and Jhaton White (Derivatives) David Rubinsky, John O’Neill and Chelsea Cantos (Executive Compensation & Employee Benefits); Nancy Mehlman, Joana Li and Madelin Day Finn (Tax); Toby Chun and Shefain Islam (Environmental); Peter Guryan and Max Fischer-Zernin (Antitrust); Dennis Loiacono (Real Estate); James Talbot and Tally Smitas (Intellectual Property); and Steven DeLott and Joseph Cosentino (Insurance).