Rattler Midstream Closes Acquisition of Reliance Gathering System in U.S.

Updated 1 year 10 months ago

Diamondback subsidiary Rattler Midstream closed the acquisition of Reliance Gathering by newly-formed joint venture with Oryx Midstream for approximately USD 356 million in cash, subject to post-closing purchase price adjustments. Rattler owns 60% of the joint venture and funded its portion of the acquisition price with cash on hand and borrowings under its revolving credit facility.