Empire Midstream LLC recently acquired a pipeline that its founder said further expands its footprint of pipeline assets into the deepwater of the Gulf of Mexico.
The pipeline is the Auger 12-inch line which runs approximately 33 miles from the Garden Banks 128 Platform A (Enchilada Platform) to a downstream subsea tie-in into the Eugene Island Pipeline System in Eugene Island Block 314. Specific terms of the transaction with Pecten Midstream, a subsidiary of Shell Midstream Partners LP, were not disclosed.
In a statement on June 9, Everard W. Marks III, founder of Empire Midstream, commented: “Entrepreneurial spirit amongst the counterparties was instrumental in this transaction and will help producers with flow assurance and larger take away capacity from the Garden Banks and Green Canyon areas, all while working to formulate ‘win-win’ strategies for the producers and shippers.”
The acquired pipeline is currently shut-in. Empire said in a June 9 release it will complete start-up operations and other transitional work to bring the pipeline online with first flow targeted by Sept. 1.
Since its inception as a development, operating and management company, Empire has expanded beyond crude oil pipelines to include a crude oil terminal, an investment in a filtration and recycling facility for oil and gas flowback water, saltwater disposal wells for oil and gas produced and filtered flowback water, and management services for others.
Gulfport Energy retained Eagle River Energy Advisors for the sale of certain ORRI and nonoperated working interest assets and associated lands in the Williston Basin of North Dakota in Dunn, McKenzie, McLean and Mountrail counties.
EnergyNet was retained for the sale of a Paradox Basin opportunity in San Juan County, Utah, through a sealed-bid offering that includes three separate drilling opportunities.
Here’s a snapshot of recent energy deals including the acquisition of a “unique opportunity” in the Permian Basin by Lime Rock Resources in a $508.3 million deal plus Whiting Petroleum’s exit from the D-J Basin.