Key Takeaways Diamondback agreed to sell Environmental Disposal Systems to Deep Blue in a $750M deal.FANG will receive $675M upfront, up to $200M more by 2028, and keep a 30% equity stake.Deep Blue's expanded system will manage over 1.2M bbl/day of water across 783,000 acres.Diamondback Energy, Inc. (FANG) recently announced that it has entered into an agreement to offload Environmental Disposal Systems, LLC (“EDS”) to Deep Blue Midland Basin LLC (Deep Blue) in a transaction valued at approximately $750 mil ...