A deal for a stake in WaterBridge Resources highlights the rising importance of businesses that handle the lakes' worth of briny, polluted water that fracking extracts along with oil and gas
Singapore sovereign-wealth fund GIC has bought a stake in WaterBridge Resources LLC in a deal that values the Houston-based handler of oil-drilling wastewater at nearly $3 billion including debt, according to people familiar with the matter.
GIC bought 20% of the company from Five Point Energy, a Texas investment firm that started WaterBridge in 2016 with $200 million of seed money, one of the people said.
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