[Editor's note: A version of this story appears in the April 2021 issue of Midstream Business magazine.]
In mid-December, Houston-based Pinnacle Midstream II announced plans to build a new gas gathering and compression system in the Midland Basin, the “Dos Picos” gathering system. The gas gathering system will initially serve Midland, Martin and Glasscock counties in Texas with more than 50 miles of primarily 16-in., low- and high-pressure main lines and compression facilities. It will also provide producers in-basin processing and delivery options to multiple markets. The system is due to be in full service around the end of March, and some molecules are already moving.
DoublePoint Energy LLC will serve as the anchor customer under a 15-year gathering, processing and purchase agreement. Pinnacle is backed by Dallas-based private equity firm Energy Spectrum and funds from management.
Pinnacle’s CEO, J. Greg Sargent, recently spoke with Midstream Business on the progress of the company’s operations.