Canes Midstream Closes Acquisition of Cogent Midstream
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Canes Midstream, a Dallas-based portfolio company of EIV Capital and Denham Capital, has closed on the acquisition of Cogent Midstream.
The Cogent assets, located in the Southern Midland Basin, include 520 million cubic feet per day of processing capacity, over 800 miles of pipelines, 42 compressor stations, a crude oil gathering system, and substantial acreage dedications from a diverse group of Midland Basin-focused producers. The Cogent system spans 10 counties in the Midland Basin, with the bulk of the infrastructure in Reagan and Irion counties.
“I was with these assets at inception and am excited to return and continue to grow them. With our newer facilities and the significant capital invested by Cogent to date, we are well positioned to grow the system and provide best-in-class midstream services to our existing and future customers. I believe Canes will be the preferred midstream service provider in the Southern Midland Basin,” said Scott Brown, founder and CEO of Canes.
“We are thrilled to expand our partnership with Canes and are confident Scott’s familiarity with the team and assets position the Cogent system to be the midstream provider of choice in the area. With fresh capital, Canes will continue to expand the system and support Permian production growth,” said Greg Davis, partner at EIV.
“Canes, via this acquisition, is well positioned to drive differentiated outcomes for area producers. We look forward to supporting Scott and team as they grow this tier-1 system to service new and existing customers in the Permian Basin,” said James Obulaney, managing director of Denham.
About Canes Midstream
Headquartered in Dallas, Texas and founded in 2019, Canes Midstream is a midstream oil and gas company that offers a full suite of midstream services to its customers. Canes’ management has been focused on gas gathering and processing as well as crude oil gathering their entire careers.
To stop by Canes’ website, CLICK HERE
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