Mainline Midstream, LLC, wholly owned by Riverstone Holdings and managed by Mainline Energy Partners, LLC (Mainline Energy) announced the acquisition of more than 1000 miles of oil and gas pipeline and right-of-ways (ROW) in the SCOOP/STACK/MERGE resource play in Oklahoma.
Mainline Energy, a portfolio company of Riverstone Holdings, plans to utilise the ROW to support the development of oil and gas gathering, transport, storage, stabilisation and processing facilities in the prolific SCOOP/STACK/MERGE basin.
Mainline Energy's team, led by William Shea, Mark Casaday, Rob Wallace and Art Cantrell, has over 90 years of combined experience developing and operating infrastructure assets for the oil and gas industry. The team's prior experience includes Buckeye Partners, PVR Partners, Niska Gas Storage, Energy Transfer Partners, Equitable Resources and Pentex.
"We are excited to be working together with Riverstone again on this acquisition and development effort," said William Shea. "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 US$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.
Read the article online at: https://www.worldpipelines.com/business-news/04082017/mainline-midstream-acquires-pipeline-and-row-in-oklahoma/