Cardinal Midstream Partners closed its acquisition of Medallion Midstream’s natural gas gathering and processing assets in the Delaware Basin, Cardinal said on Feb. 6.
The operations in Reeves and Loving counties, Texas, include about 80 miles of high- and low-pressure natural gas gathering pipelines and a 140 MMcf/d natural gas processing facility.
“We are excited to have completed this transaction as it positions us for significant growth and future bolt-on opportunities in the heart of one of the most prolific basins in the United States,” said Cardinal CEO Doug Dormer. “These assets are an ideal cornerstone for our business and we look forward to meaningfully growing our footprint over time.”
The Dallas independent was formed in April 2022 with $300 million in funding from EnCap Flatrock Midstream. It is focused on midstream acquisition and development across North America, specifically natural gas gathering and processing, and carbon capture and sequestration.
Recommended Reading
BKV Appoints Dilanka Seimon to New Chief Commercial Officer Position
2025-04-03 - BKV Corp. has created a new chief commercial officer position and placed industry veteran Dilanka Seimon in the role.
NGP Backs Wing Resources with $100MM to Buy Permian Mineral Interests
2025-04-02 - Wing Resources VIII, which is backed by NGP Royalty Partners III, will focus on acquiring “high-quality” mineral and royalty interests across the Permian Basin, the company said.
Exxon Mobil Vice President Karen McKee to Retire After 34 Years
2025-04-02 - Matt Crocker will succeed Karen T. McKee as vice president of Exxon Mobil and president of its product solutions company.
Double Eagle Team Re-Ups in Permian, Backed by EnCap’s $2.5B
2025-04-02 - The fifth iterations of Double Eagle Energy and its minerals subsidiary, Tumbleweed Royalty, have received a $2.5 billion equity commitment from EnCap Investments LP—the day the E&P finalized a $4.1 billion sale to Diamondback Energy.
Waterous Raises $1B PE Fund for Canadian Oil, Gas Investments
2025-04-01 - Waterous Energy Fund (WEF) raised US$1 billion for its third fund and backed oil sands producer Greenfire Resources.
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.