Oil, Gas and Shale
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Crestwood Closes on Buy-In Option with Shell Midstream Partners in Delaware Basin, Texas

Published: October 20, 2017 |

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Crestwood Equity Partners has closed on the equity option agreement with Shell Midstream Partners, L.P., a master limited partnership formed by Royal Dutch Shell, to purchase a 50 percent equity interest in Crestwood Permian Basin LLC which owns the Nautilus gas gathering system.

The other 50 percent equity interest continues to be owned by Crestwood Permian Basin Holdings. The Nautilus system gathers the majority of Shell’s operated Delaware Basin gas under a 20-year tiered, fixed-fee contract.

“We are pleased to begin our partnership with Shell Midstream in the Delaware Basin. Crestwood expects to use the proceeds to reinvest in on-going accretive growth projects and reduce borrowings under our revolving credit facility,” said Robert Phillips, Chairman, president and chief executive officer of Crestwood’s general partner.


About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP is a master limited partnership that owns and operates midstream businesses in multiple unconventional shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; and gathering, storage, terminalling and marketing of crude oil.

To stop by Crestwood’s website, CLICK HERE


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