EVX Midstream to Construct New Crude Oil Gathering System in Texas
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EVX Midstream Partners has signed an agreement to construct, own and operate a new crude oil gathering system in McMullen County, Texas with an undisclosed independent oil and gas producer.
The system, which is expected to be in service during the second quarter of 2018, will consist of large-diameter gathering over approximately 20,000 dedicated acres and a storage terminal with connectivity to Eagle Ford JV Pipeline.
“We are pleased to continue executing our multi commodity development plans in the Eagle Ford. This new-build large diameter gathering system complements our existing assets, adds a substantial long-term acreage dedication to our portfolio and will ultimately allow us to serve a broader base of customers,” said Herb Chambers IV, President and CEO of EVX. “We continue to evaluate additional Eagle Ford, Gulf Coast and Permian opportunities and look forward to executing other growth projects in 2018,” Mr. Chambers continued.
“Today’s announcement represents a significant milestone for EVX. This asset not only expands our existing Eagle Ford footprint, but also strategically positions EVX for additional long-term growth opportunities,” said Brian Stewart, VP of Business Development of EVX.
EVX is led by its three founders: Herb Chambers IV, President and CEO; Charlie Flynn, Chief Operating Officer; and Brian Kellar, Chief Financial Officer. The EVX leadership team has a demonstrated track record of success, originating transactions and projects, structuring and developing midstream assets, and operating assets post-acquisition or project completion.
Source: Energy Business Review
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