| ACQUISITIONS |
NOTE 3—ACQUISITIONS The following table presents key information connected with our 2025 and 2024 acquisitions (dollars in thousands): | | | | | | | | | | | | Assets and Operations Acquired | | | Acquisition Date | | Cash Consideration | | Acquisition related costs for Asset Acquisitions | | Total Consideration | | Segments | Three Smaller Asset Acquisitions | | | Multiple 2025 Dates | $ | 13,080 | $ | — | $ | 13,080 | | Water Infrastructure | Eight Smaller Asset Acquisitions | | | Multiple 2024 Dates | | 14,591 | | 31 | | 14,622 | | Water Infrastructure | Bobcat | | | April 18, 2024 | | 8,070 | | — | | 8,070 | | Water Infrastructure | Trinity | | | April 1, 2024 | | 30,832 | | — | | 30,832 | | Water Infrastructure | Buckhorn | | | March 1, 2024 | | 18,781 | | — | | 18,781 | | Water Infrastructure | Iron Mountain Energy | | | January 8, 2024 | | 14,000 | | — | | 14,000 | | Water Infrastructure | Tri-State Water Logistics | | | January 3, 2024 | | 58,330 | | — | | 58,330 | | Water Infrastructure | Rockies produced water gathering and disposal infrastructure | | | January 1, 2024 | | 18,100 | | — | | 18,100 | | Water Infrastructure | Total | | | | $ | 175,784 | $ | 31 | $ | 175,815 | | |
2025 Asset Acquisitions During the Current Quarter, the Company acquired certain assets and associated liabilities in the Permian Basin from three transactions for $13.1 million. The allocation of the purchase price for these assets was a combined $15.4 million in property and equipment and $2.3 million in asset retirement obligations and other liabilities. 2024 Asset Acquisitions During 2024, the Company acquired certain assets and associated liabilities, primarily in the Permian Basin and Northeast Ohio, from eight transactions for $14.6 million inclusive of acquisition-related costs. The allocation of the purchase price for these assets was a combined $8.6 million in property and equipment, $6.0 million in land, $1.5 million in intellectual property, $0.1 million in other long-term assets and $1.6 million in asset retirement obligations and other liabilities. 2024 Business Combinations In 2024, the Company completed six business combinations for which all purchase accounting was finalized during 2024. A summary of the consideration transferred and the estimated fair value of identified assets acquired and liabilities assumed as of December 31, 2024 is presented below: | | | | | | | | | | | | | | | | | | | | | | Purchase price allocation | | | Bobcat | | | Trinity | | | Buckhorn | | | Iron Mountain Energy | | | Tri-State Water Logistics | | | Rockies Infrastructure | | | Total 2024 Acquisitions | | | | (in thousands) | Consideration transferred | | | | | | | | | Cash consideration(1) | | $ | 8,070 | | $ | 30,832 | | $ | 18,781 | | $ | 14,000 | | $ | 58,330 | | $ | 18,100 | | $ | 148,113 | Total consideration transferred | | | 8,070 | | | 30,832 | | | 18,781 | | | 14,000 | | | 58,330 | | | 18,100 | | | 148,113 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less: identifiable assets acquired and liabilities assumed | | | | | | | | | | | | | | | | | | | | | | Working capital | | | (285) | | | (408) | | | 752 | | | (3,974) | | | (1,428) | | | (500) | | | (5,843) | Property and equipment | | | 8,291 | | | 41,706 | | | 19,665 | | | 21,876 | | | 44,613 | | | 8,266 | | | 144,417 | Right-of-use assets | | | — | | | 182 | | | — | | | — | | | 1,028 | | | — | | | 1,210 | Customer relationships | | | 535 | | | — | | | 4,100 | | | — | | | 10,240 | | | 8,230 | | | 23,105 | Deferred tax liabilities | | | — | | | — | | | (2,393) | | | — | | | — | | | — | | | (2,393) | Long-term ARO | | | (471) | | | (10,149) | | | (6,898) | | | (3,902) | | | (2,569) | | | (471) | | | (24,460) | Long-term lease liabilities | | | — | | | (499) | | | — | | | — | | | (956) | | | — | | | (1,455) | Total identifiable net assets acquired | | | 8,070 | | | 30,832 | | | 15,226 | | | 14,000 | | | 50,928 | | | 15,525 | | | 134,581 | Goodwill | | | — | | | — | | | 3,555 | | | — | | | 7,402 | | | 2,575 | | | 13,532 | Fair value allocated to net assets acquired | | $ | 8,070 | | $ | 30,832 | | $ | 18,781 | | $ | 14,000 | | $ | 58,330 | | $ | 18,100 | | $ | 148,113 |
| (1) | During the Current Quarter, the Company paid $0.9 million to the Buckhorn sellers in connection with the release of an indemnity holdback that was determined to be no longer necessary. |
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