4 AM Midstream Acquires White Star Petroleum’s Midstream Assets, Oklahoma
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4 AM Midstream has acquired midstream oil and gas gathering assets from White Star Petroleum for an undisclosed sum.
The purchased assets, which are situated in central Oklahoma, will distribute oil and gas from White Star and neighboring production companies to major markets.
The assets comprised of 253 miles of gas gathering pipelines, including 26 miles of high pressure lines and 214 miles of crude oil gathering pipelines.
4 AM Midstream CEO Aubrey Harper said: “The acquisition of White Star’s midstream assets is the first phase of our overall strategy for Central and Western Oklahoma. The system was built to accommodate a substantial drilling and production program in the Mississippi Lime play.
“4 AM has identified an opportunity to leverage this asset to additionally provide gathering services to producers in the fast-growing STACK basin in Oklahoma who are currently trucking their production.”
Virgo Investment Group has supported 4 AM to acquire these midstream assets.
Virgo Investment Group partner Eli Aheto said: “We are pleased to work with White Star to enable their growth goals and to provide a creative capital solution to the 4 AM team as they seek to provide gathering and processing services to Mississippi Lime and STACK producers.”
White Star Petroleum offers oil and natural gas exploration and production services, while 4 AM provides gathering and processing services to oil and gas producers.
4 AM is also engaged in the acquisition, development and operating of oil and gas pipeline assets.
Source: (August 16, 2017) Energy Business Review
To stop by 4 AM’s website, CLICK HERE
To stop by White Star’s website, CLICK HERE
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