Eagle-Ford Republic Midstream System Has a New Owner04/09/2019
Nuevo Midstream Dos LLC, Houston, will expand its crude oil gathering, storage, and intermediate transportation system in the Eagle Ford shale. It has entered into a definitive agreement with an affiliate of ArcLight Capital Partners to acquire the Republic Midstream System.
Most of the company's assets are located in Gonzales, Lavaca, and Dewitt counties in Texas. The system consists of some 100 miles of gathering pipeline that feeds a central delivery point with 300,000 barrels of crude oil storage and a six-bay truck station.
The 26-mile intermediate pipeline moves volume from this delivery point to the Kinder Morgan Crude and Condensate Pipeline and the Eagle Ford Crude Oil Pipeline System, which is owned and operated by Enterprise.
The transaction is expected to close early in the 2Q 2019.
Southland Royalty sold its San Juan Basin assets to MorningStar for $17.3 million. We go over the basics with an emphasis on the data needed to evaluate Southland Royalty's acreage in the San Juan Basin.
As demands for water management solutions increase, service companies are looking for new ways to optimize their ability to recycle and store this water.
As you know the US Oil Rig Count has dropped by over 20% from January to December 2019. In Texas we saw oil rigs count dropping over 30% in that same time frame.