Blackbuck Resources Announces Expansion of Sustainability-Linked Financing

Blackbuck Resources LLC ("Blackbuck"), which designs, builds, and operates water infrastructure, announced it has expanded its sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC ("Riverstone"). The upsized financing provides Blackbuck with additional liquidity to execute on accretive growth resulting from recently signed contracts around its Midland Basin and Delaware Basin platforms. The facility's pricing will be adjusted based upon Blackbuck's adherence to certain sustainability performance targets, which are defined by key performance indicators set internally by Blackbuck. Blackbuck obtained a second party opinion from Sustainable Fitch that considered the transaction to be aligned with the five pillars of the LSTA Sustainability-Linked Loan Principles.

"The team has been working hard on executing our strategy to bring value to new customers adjacent to our existing platforms. We're pleased to see this paying off as we continue to sign long-term contracts with new, high-quality customers," said Blackbuck CEO & President Justin Love. "Riverstone has been a great partner to Blackbuck, and this expansion capital further aligns with our anticipated continued growth in a strong macro environment."

Foley & Lardner LLP served as legal adviser to Blackbuck. Baker Botts L.L.P. served as legal adviser to Riverstone.

About Blackbuck Resources LLC

Based in Houston and Midland, Blackbuck designs, builds, and operates water infrastructure and provides services for the oil and gas industry, with a primary focus on the Permian Basin. The team is comprised of professionals with experience in water disposal and treatment, pipeline management and oil and gas operations. Blackbuck is backed by private equity sponsor Cresta Funds Management. For more information, visit www.blackbuckresources.com.

About Riverstone Holdings LLC

Founded in 2000, Riverstone is an investment firm focused on executing private equity and credit investments in energy, power, decarbonization and infrastructure. To date, the Firm has raised approximately $43 billion of capital, which it has deployed across its platform to over 200 portfolio companies since inception. For more information about Riverstone, please visit www.riverstonellc.com.

About Cresta Fund Management

Blackbuck is a portfolio company of Cresta Fund Management ("Cresta"), a growth-oriented, middle market-focused private equity firm with over $1 billion of assets under management that invests in sustainable and conventional energy, industrial, materials, and agricultural infrastructure. Founded in 2016 and based in Dallas, Texas, Cresta's team has a strong operational history, with decades of combined development, engineering, commercial, trading, legal and financial experience in the infrastructure industry, and its founding partners have worked together as a team since 2007. For more information, please visit: www.crestafunds.com.