Two years ago, Houston-based ARM Energy sold its midstream “arm” Kingfisher Midstream to Silver Run Acquisition Corp. for $1.55 billion. With the acquisition in hand, Silver Run—which financed the deal—formed Alta Mesa Resources, combining Kingfisher with its newly formed portfolio company. Long story short, the combo didn’t work out so well and both Alta Mesa and Kingfisher Midstream separately filed for bankruptcy in January this year. Kingfisher was acquired in April by Okla. City-based Mach Resources.
Salt Creek Midstream
Formed in 2017, Houston-headquartered Salt Creek Midstream, LLC is a full service midstream provider primarily comprised of cryogenic processing facilities, gas and crude gathering pipelines, compression and treating facilities as well as water gathering and disposal services.
It’s interesting to note that ARM created Kingfisher Midstream in 2015, the assets of which included 400 miles of crude oil and gas gathering pipelines and 350 MMCFD of processing capacity in the Okla., STACK play. But one year later, the company shifted both its geographical focus and operations strategy, looking instead to dive into the Permian-to-Gulf Coast open water and building an integrated midstream system that today includes natural gas, NGLs, crude oil and produced water. Voila. Salt Creek Midstream was born.
Salt Creek Midstream since 2017 has proved to be a serious player flowing three hydrocarbons and produced water from the Permian to Gulf Coast markets. With more than 900,000 acres dedicated across its systems, the company’s expansive infrastructure connects Delaware production to the Waha Hub and western markets. Salt Creek also has continued to increase capacity, becoming a minority partner in EPIC Midstream’s NGL Pipeline, contracting capacity on Kinder Morgan’s El Paso Natural Gas Pipeline, and taking long-haul space on the EPIC Crude Pipeline.
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