Bechtel Energy Inc. (“Bechtel”) and Five Point Energy LLC (“Five Point”) today announced an agreement that enables Five Point to utilize Bechtel’s proprietary Low Energy Ejector Desalination System (“LEEDS”) technology to provide produced water desalination services to customers across the Permian Basin. The agreement establishes an exclusive relationship between Bechtel and Five Point for the marketing, development, and sale of plants utilizing the LEEDS technology for produced water in the Permian Basin.
Deep Blue Holdings, LLC (“Deep Blue”), a portfolio company of Five Point, will operate Bechtel’s pilot unit at a saltwater disposal well near Midland, Texas, to support the development of and demonstrate the technology’s reliability.
“Bechtel places a core focus on protecting people and the environment, and we’re proud to help our customers find new and innovative ways to meet their sustainability goals,” said Paul Marsden, president of Bechtel Energy. “LEEDS is part of Bechtel's strategic approach to creating a cleaner world by tackling water scarcity at the source.”
David Capobianco, CEO of Five Point Energy, said, “We are excited to partner with Bechtel on this compelling and innovative solution to desalinate produced water across the Permian Basin. Five Point, and our dedicated platforms, have always been pioneers in addressing the produced water needs of blue-chip clients and reducing reliance on freshwater sources for drilling and completion activities. Today’s announcement is yet another milestone in our journey to treat and preserve water in an environmentally efficient and economical manner.”
“Deep Blue has worked for years to advance the preservation of freshwater resources in energy development,” said Scott Mitchell, CEO of Deep Blue. “The LEEDS pilot test marks a crucial next step to further that effort.”
About LEEDS
LEEDS can be used in a variety of industries to reduce high salinity waste stream volumes and recover as much clean water as possible. The technology treats produced water to a quality suitable for reintroduction into the local ecosystem or for other commercial applications. With the volume of produced water expected to continue to grow over the coming years, finding an economically viable solution is critical for fit-for-purpose use of produced water.
The LEEDS technology is designed to treat water using less energy than traditional thermal evaporation processes and requires no external sources of heat. This means it can be effectively deployed in areas that do not have available thermal energy (i.e., steam or waste heat) and provides an affordable alternative to disposal.
The LEEDS pilot testing program with Deep Blue is expected to conclude in early 2024.
About Deep Blue
Deep Blue develops, owns, and operates integrated midstream water infrastructure networks to manage water for exploration and production companies throughout the Midland Basin. Our mission is to create value for our customers and stakeholders by addressing their long-term water management requirements through our integrated pipeline system and advanced technologies. Solving for the entire lifecycle of each barrel of water produced and consumed by our customers is a critical aspect of Deep Blue’s mission. Every day, we strive to provide safe, reliable, and efficient solutions that support a thriving industry while protecting the environment and advancing sustainable industry practices.
About Five Point Energy
Five Point Energy is a leading private equity firm focused on building businesses within the environmental water management and sustainable infrastructure sectors. The firm was founded by industry veterans who have had successful careers investing in, building, and running midstream infrastructure companies. Five Point’s strategy is to buy and build assets, create companies, and grow them into sustainable enterprises with premier management teams and industry-leading E&P partners. Based in Houston, Five Point targets equity investments up to $1 billion and has approximately $4 billion of capital under management across multiple investment funds. For further information, please visit www.fivepointenergy.com.
