Diamondback Energy and KKR to Acquire Deep Blue Midland Basin from Five Point Infrastructure

MIDLAND and HOUSTON, Texas, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) and KKR, a leading global investment firm, today announced an agreement to jointly acquire Five Point Infrastructure's (“Five Point”) 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.