15-11-2018
Elevate Midstream acquires gas gathering, treating and processing assets
Elevate Midstream Partners, LLC, a full-service midstream company headquartered in Houston, Texas, today announced the acquisitions of Woodland Midstream Partners, LP and the assets of Orion Pipeline, LLC which consist of gas gathering, treating and processing assets in East Texas. The Transaction was completed in partnership with Elevate’s financial sponsor, Tailwater Capital, an energy-focused private equity firm based in Dallas.
Elevate provides a comprehensive suite of midstream services for exploration and production companies including natural gas gathering, processing, compression, dehydration and liquids stabilization. Through these acquisitions, the Company has established a strong asset base in East Texas and will continue exploring additional opportunities for growth in and around the existing system. Following the completion of the Transaction, Elevate will own and operate more than 180 miles of active pipelines, 19,000-horse power of compression, an 80 MMcf/d gas processing plant, and related dehydration and NGL stabilization equipment.
“We are pleased to complete the Woodland and Orion acquisitions,” said Roger Fox, Chief Executive Officer of Elevate Midstream. “With assets strategically located in the core of the Haynesville and Cotton Valley formations and significant opportunities for continued growth and development across the combined company, Woodland and Orion provide a strong platform for Elevate and we look forward to growing our asset base as we continue to service our East Texas producers.”
“Since partnering with Elevate in October 2017, we have worked closely with Roger and his team to execute on the Company’s growth strategy,” said Joel Fry, a Principal at Tailwater Capital. “These acquisitions are a prime example of Elevate’s commitment to identifying underutilized assets with the potential for growth through improved operational and business development initiatives and further strengthen Elevate’s growing platform.”
The Woodland Acquisition includes systems throughout both Texas and Louisiana, providing Elevate with an existing natural gas gathering, treating, compression and processing footprint. Additionally, the acquisition and strategic positioning of the Woodland asset includes several opportunities for growth, leveraging existing relationships around the extensive pipeline network acquired in the Transaction. In conjunction with the Transaction, select members of the Woodland management team will join Elevate, enhancing the Company’s operational and business development capabilities.
Orion provides natural gas gathering, treating and compression services for production, also primarily from the Haynesville and Cotton Valley formations, in Western Panola and Eastern Rusk Counties in East Texas. The Orion Acquisition is a complementary asset base comprised of five systems that provide additional scale and the opportunity to drive synergies across the combined platform.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024