Brazos Midstream Acquires Permian Gas Gathering Systems from Diamondback Energy

Brazos Midstream recently completed two transactions with Diamondback Energy and its midstream affiliate, which included Brazos’ first acquisition on the Midland Basin said of the Permian.

Brazos Midstream Acquires Permian Gas Gathering Systems from Diamondback Energy

Brazos Midstream also announced the acquisition of the Pecos Gas Gathering System, which Brazos had operated in the southern Delaware Basin on behalf of Diamondback and Rattler since 2017. (Source: Hart Energy)

Brazos Midstream recently expanded its footprint in the Permian Basin with two significant transactions with Diamondback Energy Inc. and its midstream affiliate.

Headquartered in Fort Worth, Texas, Brazos is one of the largest private natural gas and crude oil midstream companies in the Delaware Basin of the Permian. However, on Nov. 3, the company said it has now expanded to the Midland Basin through the acquisition of Diamondback’s Mustang Springs Gas Gathering System, marking Brazos’ first acquisition on the Midland Basin side of the Permian.

The acquisition of the Mustang Springs Gas Gathering System located in the Northern Midland Basin was made through the company’s newly formed affiliate Brazos Midland. Diamondback reported net consideration of approximately $54 million from the sale of the Mustang Springs Gas Gathering assets.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.