EVX Midstream Partners, LLC has entered into a definitive agreement to build a crude oil gathering system in the Eagle Ford oil window. The gathering system (EVX South Texas Crude) will be underpinned by a fee-based, 10 year agreement that includes a substantial acreage dedication and existing crude oil production in Frio, La Salle and McMullen Counties, Texas. EVX South Texas Crude facilities will serve many of the same producers as EVX South Texas Water and ultimately create higher netbacks for EVX's customers.
Herb Chambers IV, President and CEO of EVX said, "We are pleased to continue our multi-commodity development plans in the Eagle Ford. Our business model is to serve producers by handling all of their midstream needs. EVX's operational and commercial expertise allows us to develop crude oil, natural gas and water systems of any scale."
Chambers continued, "We are currently evaluating multiple expansion opportunities in the area and our crude oil assets will position EVX to provide additional gathering, storage and blending opportunities."
EVX is led by its three founders: Herb Chambers IV, President and CEO; Charlie Flynn, Chief Operating Officer; and Brian Kellar, Chief Financial Officer. The EVX leadership team has a demonstrated track record of success, with over 50 years of collective experience originating transactions and projects, structuring and developing midstream assets, and operating assets post-acquisition or project completion.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.tanksterminals.com/storage-tanks/13092016/evx-midstream-announces-construction-of-eagle-ford-gathering-system-4070/