Another full-cycle provider of water management services--including water gathering, treatment, recycling and disposal--is moving from idea toward reality in the Permian Basin. Waterfield is the name of Blackstone’s (NYSE:BX) newly launched water midstream platform in the Permian Basin.

The venture is backed by a $500-million equity commitment to pursue greenfield development and acquisitions of water-related infrastructure by funds of Blackstone Energy Partners L.P.

The goal is to help producers minimize environmental impact and operating cost of oil and gas production from the Permian.

Waterfield is led by Co-Chief Executive Officers Scott Mitchell and Mark Cahill, who previously built and led Anadarko’s and Western Gas’s Permian...


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