Aris Water Solutions — Merger or Acquisition (August 2025)
6 slides from Aris Water Solutions's merger presentation, Aug 6, 2025
Slide 1: Strategic Delaware Basin Acquisition of Aris Water Solutions
Strategic Delaware Basin Acquisition of Aris Water Solutions August 6, 2025
Slide 2: No Offer or Solicitation
2 No Offer or Solicitation This communication relates to a proposed business combination transaction (the “Transaction”) between Western Midstream Partners, LP (“WES”) and Aris Water Solutions, Inc. (“Aris”). This communication is for informational purposes only and does not constitute an offer to b
Slide 3: Terms of Merger Agreement
3 Terms of Merger Agreement • Western Midstream Partners, LP (NYSE: WES) has agreed to acquire Aris Water Solutions, Inc. (NYSE: ARIS), a leading Delaware Basin produced-water midstream company, in an equity-and-cash transaction valued at $1.5 billion. • Enterprise value of the transaction is approx
Slide 4: Strategic rationale of the transaction
4 • Creates a differentiated Delaware Basin produced-water system, enhancing WES’s ability to compete for new business development opportunities. • Creates a fully integrated produced-water value chain through water gathering, disposal, recycle/reuse, beneficial reuse (including desalination and min
Slide 5: Aris Water Solutions Company Overview
11% 7% 38% 19% 25% 16% 21% 45% 9% 9% Dedicated 84% MVC 11% Spot 5% • Leading growth-oriented water infrastructure and solutions company • Full-cycle, sustainable water handling and recycling solutions • Premier contracted acreage with low breakeven and multi-decade remaining inventory 5 Highly Contr
Slide 6: Financial Highlights of the Transaction
Natural-gas 67% Crude-oil & NGLs 17% Water 16% 6 Financial Highlights of the Transaction Strong Balance Sheet Maintains a strong, investment-grade balance sheet with pro forma net leverage of ~3.0x. Incremental Upside Further system buildout coupled with incremental commercial opportunities expected
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