WaterBridge Resources, LLC (“WaterBridge” or the “Company”), a midstream development company focused on developing, acquiring and operating flowback and produced water infrastructure for oil and gas producers, announced today that energy industry veteran John R. Durand has joined the Company’s Executive Leadership Team as President and Chief Operating Officer. WaterBridge is an investment platform funded by Five Point Capital Partners LLC, a private equity firm focused on midstream energy infrastructure and energy sector investments across North America.
Mr. Durand has more than three decades of industry expertise, having held executive leadership positions across multiple disciplines, spanning upstream oil and gas, midstream services, commodity marketing and power generation. Prior to joining WaterBridge, he served on the Management Team of Pioneer Water Management LLC, a wholly-owned subsidiary of Pioneer Natural Resources, one of the largest independent producers in the Permian Basin. In that role, Mr. Durand oversaw the commercial, logistics and supply sourcing functions for the largest midstream water operation in North America and served as the commercial lead in negotiating landmark agreements with the cities of Odessa and Midland to purchase municipal effluent water for Pioneer’s long-term development requirements.
Steve Johnson, Founder & Chief Executive Officer of WaterBridge, said, “John is an exceptionally talented and respected leader in our industry. His unique blend of skills and experience across disciplines will add immense value, as we deliver an even wider range of superior services to our E&P customers.” Mr. Johnson continued, “WaterBridge is ideally positioned to expand its business and to build an industry leading water management company within an opportunity-rich North American market.”
John Durand, said, “The opportunity to join this impressive WaterBridge team, with the support of Five Point Capital Partners, was very compelling to me. I look forward to leveraging my knowledge and relationships for the benefit of WaterBridge and our partners. By providing an integrated set of vital midstream services, WaterBridge optimizes activity, drives down costs and reduces environmental impact. In turn, E&P operators can focus on drilling and production – thereby maximizing investment returns.”
David Capobianco, CEO and Managing Partner of Five Point Capital Partners, said, “We are delighted to welcome John and look forward to our continued partnership with WaterBridge, as the Company builds world-class water infrastructure businesses. WaterBridge is ideally positioned to pursue greenfield and brownfield acquisition opportunities in emerging resource plays and other conventional producing basins.”
In addition to his executive experience with Pioneer, Mr. Durand’s professional experience includes management roles with Mobil Oil, Union Pacific Resources, Williams Energy, FPL Energy, Crosstex Energy and PVR Partners. He has broad experience in the Permian, Mid-Continent, Rocky Mountain and Gulf Coast producing regions, the Delaware and Midland basins, as well as the Marcellus, Utica, Barnett and Haynesville Shale plays. Mr. Durand earned an M.B.A. in Corporate Finance from the University of Dallas and a B.S. degree in Petroleum Land Management from the University of Louisiana.
About WaterBridge Resources, LLC
WaterBridge Resources is a midstream development company focused on developing, acquiring and operating flowback and produced water infrastructure for oil and gas producers, including water sourcing, gathering, reuse, pipeline infrastructure, separation, and disposal infrastructure solutions. WaterBridge was founded by Stephen Johnson and Andy Stephens, in partnership with Five Point Capital Partners. For more information, please visit www.H2OBridge.com.
About Five Point Capital Partners LLC
Five Point Capital Partners is a private equity firm focused on midstream energy infrastructure and energy sector investments across North America. Five Point’s investment strategy is to partner with, develop and support strong management teams through buyouts and growth capital investments within the midstream energy sector. Based in Houston, Texas, Five Point is currently investing from Five Point Capital Midstream Fund II L.P. and manages more than $600 million of capital commitments. For further information, please visit www.fivepointcp.com.
