Texas Pacific Land Corp. (TPL) and WaterBridge NDB LLC have formed an alliance that they say emphasizes sustainable oil and natural gas development across 64,000-plus acres in Reeves and Loving counties in West Texas, spanning the heart of the Permian Basin’s Delaware sub-basin.

Permian Counties

“This alliance covers a region of the Delaware Basin that offers some of the most attractive drilling opportunities in North America and that has to-date been largely underutilized in large-scale development,” said WaterBridge’s Jason Long, co-CEO of the water midstream firm.

TPL, a major landowner that earns royalties from Permian oil and gas activity across its 880,000 acres, said the deal would expand the scale and efficiency of its produced water sourcing, treatment and disposal...