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Subsequent Event
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events
12. SUBSEQUENT EVENT

Aris. On October 15, 2025, the Partnership closed on the acquisition of Aris by merger in an equity-and-cash transaction valued at $1.5 billion, plus Aris’s outstanding debt of approximately $500 million of senior notes. Based on Aris shareholder consideration elections, the Partnership issued approximately 26.6 million common units and paid $415.0 million in cash, funded with borrowings under the commercial paper program. Due to the timing of the closing of the transactions, the initial purchase price accounting was not yet completed at the time of filing.
Aris’s water infrastructure assets, located in Lea and Eddy Counties, New Mexico and West Texas, include approximately 790 miles of produced-water pipeline, 1,800 MBbls/d of produced-water handling capacity, 1,400 MBbls/d of water recycling capacity, and 625,000 dedicated acres.