Delek Logistics closes $285M acquisition of Gravity Water Midstream in Permian Basin

Delek Logistics Partners, LP

Closed acquisition of Gravity Water Intermediate Holdings for $285M on Jan 2, 2025; paid $209.3M cash and 2.175M DKL units.
Gravity provides integrated water systems in Permian and Bakken; synergies with prior H2O Midstream deal.
President Avigal Soreq expects >70% of EBITDA from third-party sources; sees best yield and growth in midstream.
DKL to file resale registration statement for 2.175M units issued to seller within 10 business days.

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