When Mike Noack and Glen Harrod joined to form Tristate Midstream a decade ago, the East Texas veterans imagined they would buy up underutilized assets in unappreciated areas around the Cotton Valley play. Then the Haynesville Shale came along and greenfield buildout of high-pressure gathering systems became the opportunity of the day. Having now sold those assets for robust returns, assets in iterations two and three of Tristate more closely resemble the original vision—though the rebirth of the Haynesville and Terryville Field lurk in the wings. Noack, co-founder, president and COO of Tristate Midstream, visited with Midstream Business to discuss the company’s strategy, future opportunities and how the downturn has affected its plans.