Bayou Midstream announced today a series of transactions in the western Bakken Shale. An affiliate of Bayou Midstream acquired certain affiliates of NorthStar Midstream with assets located in McKenzie County, ND.
HOUSTON, July 27, 2022 /PRNewswire-PRWeb/ -- Bayou Midstream, LLC ("Bayou Midstream") announced today a series of transactions in the western Bakken Shale. An affiliate of Bayou Midstream acquired certain affiliates of NorthStar Midstream with assets located in McKenzie County, ND. The acquired assets include a 23-mile crude oil pipeline providing market access for producers and marketers in the Western Bakken with connectivity to DAPL as well as 660,000 barrels of crude oil storage located at the Alexander and East Fairview terminals. Bayou Midstream is actively evaluating gathering and storage expansions across the acquired footprint. The assets also include rail connectivity and a high-speed frac sand transloading terminal with 22,500 tons of silo storage space to facilitate increasing well completion activities across the Bakken region.
In addition, Bayou Midstream secured an expanded long-term acreage dedication with Kraken Oil & Gas, LLC ("Kraken") for crude oil gathering for Kraken's active development program in Richland County, MT. Bayou Midstream has been providing crude oil gathering in the area since 2019 and looks forward to expanding their gathering footprint with one of the Bakken's premier operators.
Bayou Midstream is currently constructing the Fairview Connector pipeline which will connect Bayou Midstream's crude oil gathering system in Richland County, MT to the newly acquired assets in East Fairview, ND. The pipeline and combined system will provide enhanced takeaway for growing production in the Western Bakken. Bayou Midstream anticipates the pipeline to be in-service by Q4 2022.
"We are excited about the expanded crude oil gathering dedication with Kraken, the closing of the Bakken NorthStar Midstream assets, and our current construction projects connecting the legacy Bayou Midstream assets and the newly acquired system. This combined system is a win for our producer partners as this growth will enhance their wellhead to market connectivity, operational integrity, and our ability to serve their needs." said Travis Roby, CEO of Bayou Midstream.
Greg Davis, Partner at EIV Capital, said "We were pleased to continue our support of the Bayou team as they executed these strategic transactions to expand their footprint in the western Bakken. Since its formation, Bayou has demonstrated a keen focus on safe, reliable operations and customer service for its producers and these transactions allow Bayou to further its position as the midstream provider of choice in the region."
ABOUT BAYOU MIDSTREAM, LLC
Bayou Midstream LLC, headquartered in Houston, Texas, is owned by certain funds of EIV Capital and management. Bayou is a full-service midstream company focused on the development and acquisition of midstream infrastructure in the Bakken and throughout the US Rockies region. For more information, please visit http://www.bayoumidstream.com.
ABOUT EIV CAPITAL
Founded in 2009, EIV Capital is a Houston, Texas-based private equity firm specializing in providing growth equity to the North American energy industry. EIV Capital focuses on investments in businesses which create value through infrastructure, innovation or efficiency. The firm's management has extensive experience leading and investing in successful companies across the energy value chain. For more information, visit http://www.eivcapital.com.
Media Contact
Travis Roby, Bayou Midstream, LLC, +1 346-249-8362, [email protected]
SOURCE Bayou Midstream, LLC
Share this article