Tivoli Services LLC, a subsidiary of Tivoli Midstream LLC, has closed an acquisition of the Barnett Shale's NTX oil pipeline system from affiliates of Phillips 66 Co., Tivoli Midstream said in an Aug. 28 press release. Financial details of the transaction were not disclosed.
The pipeline system includes approximately 140 miles of gathering and transportation pipelines in the North Texas Barnett. The pipeline system extends through sections of Young, Archer, Clay, Jack, Palo Pinto, Wichita and Stephens counties and will be supported by a long-term transportation services contract with Phillips 66.
“We welcome our long-term partnership with Phillips 66 and look forward to working with the existing team at NTX to continue to provide the best-in-class solutions for which NTX is known,” said Tivoli President Rance Fromme in the press release.
To fund the acquisition, Tivoli Services used proceeds from the closing of an investment fund managed by Intrepid Investment Management LLC. Intrepid Investment Management is the investment arm of Intrepid Financial Partners LLC.
Headquartered in Houston, Tivoli is a midstream, logistics and services company.
Recommended Reading
Adkins: Attacks on Fossil Fuels, Overregulation Poised to Backfire
2024-05-17 - Raymond James’ J. Marshall Adkins tells Hart Energy’s SUPER DUG conference attendees demonizing oil and gas, strenuous regulations and continued inflation are bound to have unexpected consequences for E&P opponents.
BKV CEO Chris Kalnin says ‘Forgotten’ Barnett Ripe for Refracs
2024-04-02 - The Barnett Shale is “ripe for fracs” and offers opportunities to boost natural gas production to historic levels, BKV Corp. CEO and Founder Chris Kalnin said at the DUG GAS+ Conference and Expo.
Kimmeridge’s Mark Viviano on Reshaping the Energy Sector, SilverBow-Crescent Deal
2024-05-16 - Kimmeridge Energy Engagement Partners’ Mark Viviano says the company is evaluating the Crescent Energy and SilverBow Acquisition and how Kimmeridge played a key role in transforming the shale sector in this Hart Energy Exclusive interview.
SUPER DUG: Shale 4.0 Era about Building Scale- Rystad
2024-05-16 - The Shale 3.0 era or capital discipline era will be followed by the Shale 4.0 era, which will see companies focused on building scale, according to Rystad Energy Senior Shale Analyst Matthew Bernstein.
How Diversified Already Surpassed its 2030 Emissions Goals
2024-04-12 - Through Diversified Energy’s “aggressive” voluntary leak detection and repair program, the company has already hit its 2030 emission goal and is en route to 2040 targets, the company says.