A $225 million deal between a Houston-based company and Denver-based Centennial Resource Development Inc. (Nasdaq: CDEV) has been terminated.
In February, Houston-based WaterBridge Holdings LLC agreed to purchase Centennial’s saltwater disposal wells and associated produced water infrastructure located primarily in Reeves County, Texas. The transaction was slated to close in March, but either party was allowed to terminate the deal if it did not close by May 15.
In a May 15 press release, Centennial…