Private Equity Rushes In to End Shale Drillers' Water Torture
- Fracking in the Permian producing 16 million barrels a day
- Deals seen continuing as producers try to rein in spending
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Drillers in America’s most prolific shale basins have a $34 billion headache that private equity wants to provide a cure for.
Over the past year, private equity-backed newcomers have stormed into the nation’s oilfields in a quest to build a vast new network of pipelines to help drillers handle the more than 16 million barrels of water a day produced by fracking in the Permian Basin alone.