Akin Gump Advises Diamondback Energy in Drop-Down Sale of Water Midstream Assets

(Houston) - Rattler Midstream LP, a subsidiary of Diamondback Energy, Inc., has announced that Rattler Midstream Operating LLC entered into a definitive purchase agreement to acquire certain water midstream assets from subsidiaries of Diamondback for $160 million in cash in a drop-down transaction. A team from Akin Gump advised Diamondback in the deal.

To learn more about this transaction, click here.

The assets were acquired by Diamondback through transactions with QEP Resources, Inc. and Guidon Operating LLC and certain of its affiliates in early 2021. Akin Gump advised Diamondback in both transactions (learn more here).

The Akin Gump team was led by corporate partner Gabe Procaccini, and included global corporate practice co-head John Goodgame, tax partner Alison Chen, and corporate associates Leana Garipova, Alan Sanchez and Kimia Jalalipou.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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