More Bite for Rattler

More Bite for Rattler

Midland, Texas-based Diamondback and its subsidiary, Rattler, enjoy a symbiotic relationship through joint ventures in the Permian that enable the former to bolster upstream development and the latter to support that production via midstream infrastructure. Reese Energy Consulting today is following the now announced sixth joint venture between the two in which Rattler has acquired a majority interest in a gathering and processing company serving the Midland sub-basin and operated by West Texas Gas. The price was not disclosed; however, Rattler invested $104 million in cash to secure a minority interest in its latest JV with Diamondback. The deal with WTG includes an interconnected gas gathering system and a whale of a bonus prize in the form of six major gas processing plants with 925 MMCF of total capacity. In addition to Rattler’s oil, gas, and water gathering pipelines and two gas processing plants, the company owns equity interests in the Permian-to-Gulf Coast EPIC and Gray Oak crude oil pipelines, as well as the Wink-to-Webster oil pipeline scheduled for service later this year.

What do you think? Learn more about REC and our natural gas and crude oil services at www.ReeseEnergyConsulting.com.

Diamondback Energy

Diamondback Energy is an American energy company engaged in hydrocarbon exploration and headquartered in Midland, Texas. As of December 31, 2020, the company had 1,316 million barrels of oil equivalent of estimated proved reserves, of which 58% was petroleum, 20% was natural gas, and 22% was natural gas liquids.

diamondbackenergy.com

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An All-Around EPIC Win

An All-Around EPIC Win

EPIC Midstream’s vision to create a NGLs “super system” has officially been realized after only four years. Reese Energy Consulting today is following the latest news from Houston-based EPIC, which in 2017 set off to build an integrated pipeline and fractionation network that would offer a smaller but best-in-class alternative to a crowded Mt. Belvieu. The company kick-started its ambitious plans with construction of the 700-mile Y-Grade Pipeline to flow Permian and Eagle Ford NGLs to Gulf Coast refiners, petrochem companies, and export markets. But more work lay ahead. EPIC last year completed its first greenfield fractionator at its Corpus Christi site that connected the Y-Grade Pipeline with an initial 110 MBbls of fractionation capacity. Now, the final legs of this super system are done and open for business. EPIC has announced completion of a 165-mile NGLs pipeline that extends from the company’s Corpus Christi facility to the Sweeny, Texas, fractionation and storage complex, adding another 130 MBbls of owned capacity. EPIC also has put into service a 175-mile propane pipeline for deliveries to Sweeny. Congratulations to all on the latest EPIC achievement.

What do you think? Learn more about REC and our natural gas and NGLs expertise at www.ReeseEnergyConsulting.com.

EPIC Midstream

EPIC was formed in 2017 to build, own and operate midstream infrastructure in both the Permian and Eagle Basins. EPIC operates the EPIC Crude Oil Pipeline and the EPIC NGL Pipeline that span approximately 700-miles servicing the Delaware, Midland Basins and Eagle Ford Shale.

epicmid.com

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