Mainline Midstream LLC, wholly owned by Riverstone Holdings and managed by Mainline Energy Partners LLC bought more than 1,000 miles of oil and gas pipeline and rights of way in the Scoop/Stack/Merge resource play in Oklahoma.
The portfolio company of Riverstone Holdings plans to utilize the rights of way to support the development of oil and gas gathering, transport, storage, stabilization and processing facilities in the prolific basin.
“We are excited to be working together with Riverstone again on this acquisition and development effort,” said William Shea, a senior executive with Mainline, in a statement. “We have enjoyed a long successful relationship since 2004 and are pleased to partner with Riverstone. The Scoop/Stack/Merge play is economically attractive, and our strategy is to develop infrastructure in the play, providing outlet optionality and allowing producers to focus on the drill bit and invest their capital efficiently.”
"Riverstone has invested more than $600 million in two companies Bill has led, and he most recently helped manage our exit from Niska Gas Storage Partners. We are pleased to partner with the Mainline team in the Scoop/Stack/Merge play. It is a focus area for us, and we are excited to deploy additional capital,” said Bartow Jones, partner at Riverstone Holdings.
Recommended Reading
Significant ROI for Energy Lobbyists Willing to Invest in Capitol Expenditures
2024-11-01 - Influencing policy in Washington requires substantial investment in campaign donations and lobbying. But the ROI is substantial, as well.
Enbridge Among Growing List of Earnings Boosted by Acquisitions
2024-11-01 - Enbridge’s utilities acquisitions and gas transport growth helped to drive earnings in the third quarter.
EIV Capital: Opportunities Abound for Investors in Midstream Sector
2024-11-01 - Here are the metrics that midstream financiers look for in a mature industry.
Kimmeridge, Commonwealth LNG Seeking MiQ Certification
2024-11-01 - The guidance provided by MiQ will support Kimmeridge’s initiative to deliver “wellhead-to-water” gas that is net-zero on Scope 1 and 2 greenhouse-gas emissions.
Energy Transition in Motion (Week of Nov. 1, 2024)
2024-11-01 - Here is a look at some of this week’s renewable energy news, including progress on the largest U.S. offshore wind project being developed.