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.
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