(Source: Shutterstock.com)
Brazos Midstream, the Permian Basin’s largest private gathering and processing firm, has completed the firm’s newest 200 MMcf/d cryogenic gas processing plant in the Midland Basin. The facility is expected to begin operation in October.
The new installation is the focus of a gathering system consisting of 175 miles of 16- to 24-inch diameter high-pressure pipe, according to the company’s Aug. 15 press release. The pipeline network includes six counties in the Midland Basin.
With the expansion, Brazos’ Midland Basin network includes about 260 miles of natural gas gathering pipeline and 10 compressor stations. The new system is backed by Old Ironsides Energy, Encap Flatrock Midstream, Brazos management and other investors, according to the announcement.
The company also recently closed a preferred equity investment with EOC Partners, Elda River Capital and other co-investors to grow its revolving credit facility, led by BOK Financial.
The Fort Worth-based company expects midstream demand to increase. Brazos also announced the upcoming construction of an even larger 300 MMcf/d gas processing plant. The facility is expected to be operational in the second half of 2025.
“The Permian Basin accounts for a quarter of all marketed natural gas production in the Lower 48 and, despite being discovered over a century ago, production is estimated to continue increasing for years to come,” said Brazos CEO Brad Iles in a press release. “Our asset base represents mission-critical infrastructure that provides reliable capacity for existing Permian gas production that has been historically underserved.”
Including the company’s Delaware Basin assets, the company operates 1,200 of natural gas, NGL and crude pipelines in the Permian and expects to have 1 Bcf/d of total processing capacity by 2025.
Recommended Reading
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
Oil, Gas and M&A: Banks ‘Hungry’ to Put Capital to Work
2025-01-29 - U.S. energy bankers see capital, generalist investors and even an appetite for IPOs returning to the upstream space.
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
2025-01-21 - The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.
Artificial Lift Firm Flowco Seeks ~$2B Valuation with IPO
2025-01-07 - U.S. artificial lift services provider Flowco Holdings is planning an IPO that could value the company at about $2 billion, according to regulatory filings.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.