XRI Holdings, LLC (XRI), a full-cycle water management and water midstream company, has secured a 10-year contract with University Lands (UL) covering over 300,000 acres in the Southern Midland Basin in the US.
Located in Upton, Reagan, and Crockett Counties of Texas, this acreage position significantly enhances XRI’s asset footprint and will provide the company with greater access to and mobility of its existing assets in the area. In particular, the UL acreage will increase XRI’s effective treating and recycling capabilities to further advance its customers’ sustainability goals and ESG initiatives.
XRI CEO, Matt Gabriel said: “We’re thrilled with this acreage position. Partnering with UL further augments XRI’s leading position in the Midland Basin in terms of full-cycle water management with our existing and prospective customers.”
XRI is currently recycling more than 400,000 barrels per day in the Permian Basin and anticipates further growth in the coming months as a result of the UL partnership.
UL manages the mineral, surface, and water rights for approximately 2.1 million acres of land across nineteen counties in West Texas for the benefit of the Permanent University Fund (PUF).
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