LM Energy Holdings LLC has launched a binding open season through its subsidiary LM Touchdown Crude III LLC on April 12 to obtain commitments to support the continued growth of its Touchdown Crude Oil Gathering System in the Northern Delaware Basin.
The proposed extension of the system will gather crude oil from origination points in Eddy and Lea Counties, New Mexico and deliver to destination points also in Eddy and Lea Counties, New Mexico.
The Touchdown Crude Oil Gathering System currently consists of approximately 50 miles of gathering and transportation pipelines and 30,000 barrels of storage capacity, with continued expansions currently underway and planned during 2021.
“Despite a challenging market backdrop over the last year, we feel very fortunate to work with customers who have active development plans and capital sponsors who remain supportive,” Elliot Gerson, CEO at LM Energy, said. “We believe that the current environment creates opportunities for LM, which we are excited to pursue.”
LM Energy’s gas gathering system was brought into service in June 2020. The Touchdown Gas Gathering System provides low pressure gathering, dehydration, compression, and high-pressure gathering services for liquids-rich natural gas produced by customers in the area.
All requests should be directed to Ryan Godfrey at (469) 501-2579 or rsg@lmenergypartners.com. All binding commitments must be received by 5 p.m. Central time on May 12, 2021.
Recommended Reading
Moda Midstream II Receives Financial Commitment for Next Round of Development
2024-03-20 - Kingwood, Texas-based Moda Midstream II announced on March 20 that it received an equity commitment from EnCap Flatrock Midstream.
Chesapeake Slashing Drilling Activity, Output Amid Low NatGas Prices
2024-02-20 - With natural gas markets still oversupplied and commodity prices low, gas producer Chesapeake Energy plans to start cutting rigs and frac crews in March.
Range Resources Holds Production Steady in 1Q 2024
2024-04-24 - NGLs are providing a boost for Range Resources as the company waits for natural gas demand to rebound.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
2024-02-27 - Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”