Mainline Midstream LLC, wholly owned by Riverstone Holdings and managed by Mainline Energy Partners LLC bought more than 1,000 miles of oil and gas pipeline and rights of way in the Scoop/Stack/Merge resource play in Oklahoma.
The portfolio company of Riverstone Holdings plans to utilize the rights of way to support the development of oil and gas gathering, transport, storage, stabilization and processing facilities in the prolific basin.
“We are excited to be working together with Riverstone again on this acquisition and development effort,” said William Shea, a senior executive with Mainline, in a statement. “We have enjoyed a long successful relationship since 2004 and are pleased to partner with Riverstone. The Scoop/Stack/Merge play is economically attractive, and our strategy is to develop infrastructure in the play, providing outlet optionality and allowing producers to focus on the drill bit and invest their capital efficiently.”
"Riverstone has invested more than $600 million in two companies Bill has led, and he most recently helped manage our exit from Niska Gas Storage Partners. We are pleased to partner with the Mainline team in the Scoop/Stack/Merge play. It is a focus area for us, and we are excited to deploy additional capital,” said Bartow Jones, partner at Riverstone Holdings.
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