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.
Imagine if your business produced 10x the volume of waste as actual product, then didn’t have to pay to clean the waste up? Just dump it underground, problem solved! 🙄 fracking cleanwater
Oh, please. The vast, vast majority of polluted Fracking water is just dumped into pits. The notion that it is 'most often recycled' or 'disposed of properly' is an unfounded myth.
super rich drama