The transaction was approved by the conflicts committee of the board of directors of Archrock Partners’ managing general partner.
The subsea processing industry is at a pivotal point as it transitions from mostly niche, one-off projects to mainstream field developments, where its value is now largely accepted.
The Dallas company sold substantially all of its assets, which included about 95,000 net acres and 380 miles of associated gathering and processing infrastructure in North Louisiana and North Texas, to Aethon United for an undisclosed amount.
EPA’s new emissions rule requires midstream operators to be prepared by Aug. 2, legal experts warn.
Gregory A. Rosenstein has more than 20 years of experience in the energy industry, including 14 years at Superior Energy Services, where his responsibilities included investor relations and corporate planning.
Randy Dean and Chad Lenamon lead College Station, Texas-based Pegasus. They are the former presidents of CDM Resource Management LLC. Its executive team has nearly 100 years of combined experience in gas compression.
The new facilities will receive sweet natural gas, remove water and hydrocarbons, chill and compress the gas to meet transmission pipeline requirements and recover NGL from the gas streams.
The rebuild was originally contracted in August 2014 to provide mechanical and construction services to restore the nitrogen rejection unit, which had been damaged in an earlier fire.
Russ Girling, president and CEO, said more capacity will support Western Canadian Sedimentary Basin gas resources. Unconventional natural gas supply growth in Alberta and British Columbia drive these new contracts.