Great Salt Plains Midstream Acquires Thunderbird Midstream Assets in Oklahoma STACK Play
[Click image to enlarge]
Great Salt Plains Midstream Holdings, LLC (GSPM) recently closed on its acquisition of Thunderbird Midstream LLC. Both firms have headquarters in Oklahoma City.
The acquired assets include the Thunderbird Midstream cryogenic natural gas plant with 20 million cubic feet of natural gas per day (MMcf/d) processing capacity. The plant began operations in 2016 and is located on more than 40 acres to allow for expansion to meet increased demand. The Thunderbird assets provide immediate processing capacity with additional firm market outlets for residue and natural gas liquids.
The transaction includes a 34 mile natural gas pipeline gathering system. The acquisition continues the buildout of GSPM’s infrastructure in the prolific STACK play of northwestern Oklahoma.
“We are adding to our system to serve multiple producers in the northwest portion of the STACK. We are now offering immediate natural gas processing services. The additional gathering pipeline from Thunderbird extends our system west into Major County, providing producers with low pressure gathering and additional residue market optionality,” said Rusty Rains, CEO of GSPM.
GSPM also has a state-of-the-art cryogenic processing facility under construction in Major County, Oklahoma, called the Silver Lake Plant, which will have an initial capacity to process up to 70 MMcf/d, with expansion capacity of up to 220 MMcf/d. Additionally, GSPM is constructing over 90 miles of natural gas gathering pipelines and multiple compressor stations and expects the new facilities to be in service in July 2018.
About Great Salt Plains Midstream
Great Salt Plains Midstream (GSPM) is a joint venture providing midstream services to producers in the STACK play. GSPM’s natural gas system includes a cryogenic gas plant with 20 MMcf/d processing capacity, a 70 MMcf/d cryogenic gas plant expected to be in service in July 2018, multiple compressor stations, and over 120 miles of natural gas gathering pipelines. Its crude oil system includes over 130 miles of crude oil pipelines, 4 injection stations (near the towns of Perry, Covington, Hennessey, and Cherokee, Oklahoma), and 314,000 barrels of total storage which provide gathering and transportation services from northwest Oklahoma to several important markets, including Cushing, Oklahoma.
To stop by Great Salt Plains Midstream’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2018 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
