Reese Energy Consulting today is following the latest news from Houston-based Pinnacle II, which is set to replicate its success as a savvy developer and operator of critical oil and gas infrastructure. In its first iteration as a portfolio company of private-equity firm Energy Spectrum Capital, Pinnacle constructed a Permian natural gas gathering and processing system and crude oil gathering and storage terminal, which included 100 miles of pipe, 30,000 Bbls of crude storage, and a 60 MMCFD processing facility. In short order, those assets were acquired by management and I Squared in 2017 and later by EagleClaw Midstream in 2018. Now in its second performance, Pinnacle II is ready to dance with a greenfield build of the Dos Picos Gathering system in the Midland Basin. Supported by a 15-year gas gathering, processing, and purchasing agreement with E&P DoublePoint Energy, Dos Picos will be built for rapid expansion. The initial system will include 50 miles of gathering lines, compression facilities, and access to third-party processing plants with an estimated completion by mid-2021.
Pinnacle Midstream II
Formed in early 2019, Pinnacle Midstream II LLC provides innovative, customer-focused services including natural gas gathering and processing, crude oil gathering and stabilization, crude oil transloading and storage services, produced water gathering and saltwater disposal wells, and product marketing and support.