Evolution Midstream Continues Expansion in the Powder River Basin With New State of the Art Facility
Jewell Facility to Begin Operating in the Fourth Quarter of 2018 and
Reach Full Capacity in 2019
Introduces New Processing Technology to the Region, Delivering Flow
Assurance and Superior Netbacks
Evolution Midstream, LLC, a leading provider of flexible midstream and
ancillary services to oil and gas producers, today announced that it has
broken ground on its Jewell Facility, a natural gas processing plant in
Converse County, Wyoming in the heart of the Powder River Basin (PRB).
Strategically located nearby Evolution’s existing infrastructure in the
PRB, the Jewell Facility will feature innovative processing technology
unique to the region. Scheduled to commence operations in the fourth
quarter of 2018, the plant will initially provide 40 MMcf/day of
processing capacity, increasing to 100 MMcf/day in 2019 to meet the
growing needs of producers in the region. The facility will include a
4,500-barrel per day fractionation and stabilization train designed to
extract purity propane and provide stabilized condensate for sale in
local and interstate markets. It will also offer residue gas connections
to MIGC, WIC and interstate pipelines that extend to the Cheyenne Hub.
“The Powder River Basin continues to emerge as one of the most
attractive oil plays in the Lower 48 and the Jewell Facility further
solidifies Evolution’s leading position in the region,” said Raj Basi,
CEO of Evolution Midstream. “The plant’s strategic location and
innovative technology will differentiate our offering in the basin while
allowing our team to better anticipate and reliably provide for our
customers’ immediate and long-term gas-gathering and processing needs.”
“The Jewell Facility’s state of the art technology and best-in-basin NGL
recoveries will not only create substantial value from superior
netbacks, it will provide critical flow assurance for our producer
customers,” said P.K. Dandapani, Senior Vice President of Commercial
Development at Evolution Midstream. “Our team remains focused on project
execution to improve and expand our asset base to meet the growing
demand of producers in the basin.”
About Evolution Midstream, LLC
Based in Denver and founded in 2015, Evolution Midstream is an
independent midstream company serving oil and gas producers operating in
the Rockies. Evolution’s subsidiary, Rowdy Pipeline LLC, owns and
operates rich gas and CBM gathering systems in the Powder River Basin.
Evolution’s vision of success is built on fostering strong, long-term
relationships with all constituents and finding creative ways to improve
producer netbacks. Evolution cultivates these relationships based on
trust, accountability and fairness to ensure that all stakeholders are
heard, valued and served. Capabilities include in-field natural gas
gathering, compression, treating and processing services; innovative NGL
solutions; and crude oil gathering, transportation and storage.
Evolution is backed by $300 million in equity commitments from funds
managed by EnCap Flatrock Midstream. For more information please visit www.evolutionmidstream.com.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven
management teams focused on midstream infrastructure opportunities
across North America. The firm was formed in 2008 by a partnership
between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based
in San Antonio with offices in Oklahoma City and Houston, the firm
manages investment commitments of nearly $9 billion from a broad group
of prestigious institutional investors. EnCap Flatrock Midstream is
currently making commitments to new management teams from EFM Fund IV, a
$3.25 billion fund. For more information please visit www.efmidstream.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180828005834/en/
Copyright Business Wire 2018
Source: Business Wire
(August 28, 2018 - 4:45 PM EDT)
News by QuoteMedia
www.quotemedia.com