Santa Fe Midstream LLC and Vermilion Cliffs Partners LLC will develop midstream infrastructure for oil, natural gas and water in the Delaware Basin, a Jan. 23 press release said.
The infrastructure will be built in Reeves and Culberson counties in West Texas.
Vermilion will contribute a 20-inch natural gas pipeline and associated facilities in Culberson County and will dedicate acreage.
Santa Fe Midstream will supply the additional capital required to construct gathering pipelines as well as a new 200 million cubic feet per day cryogenic gas processing plant in Culberson County. Santa Fe will be the operator of the midstream assets.
Natural gas residue will be delivered to downstream interstate and intrastate pipelines serving Mexican, Western U.S. and Texas markets, and NGL will be delivered to pipelines for transportation and fractionation at Mont Belvieu, Texas.
Santa Fe Midstream LLC is based in Plano, Texas.
Recommended Reading
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-21 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
President: Financial Debt for Mexico's Pemex Totaled $106.8B End of 2023
2024-02-21 - President Andres Manuel Lopez Obrador revealed the debt data in a chart from a presentation on Pemex at a government press conference.