Nuevo Midstream Dos, LLC has entered into a definitive agreement with an affiliate of ArcLight Capital Partners to purchase Republic Midstream, LLC. Republic Midstream owns and operates a crude oil gathering, storage and intermediate transportation system in the Eagle Ford Shale. The transaction is expected to close early in the second quarter of 2019. Nuevo Dos is backed by EnCap Flatrock Midstream.
Nuevo Dos plans to expand the system, which currently consists of approximately 100 miles of gathering pipeline that feeds a central delivery point (CDP) with 300 000 bbls of crude oil storage and a six-bay truck station. The system also includes an approximately 26-mile intermediate pipeline that moves volumes from the CDP to the Kinder Morgan Crude and Condensate Pipeline (KMCC) and the Eagle Ford Crude Oil Pipeline System, which is owned and operated by Enterprise. The Kinder Morgan and Enterprise pipelines deliver crude and condensate to multiple terminals with access to refineries, petrochemical plants and export terminals on the Texas Gulf Coast.
Read the article online at: https://www.tanksterminals.com/storage-tanks/26032019/nuevo-midstream-dos-agrees-to-purchase-republic-midstream/
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