Current CPE Stock Info

Goodnight Midstream announced a multi-year partnership to provide pipeline disposal service for Callon Petroleum Company (Ticker: CPE) in the southern Delaware Basin.

Goodnight Midstream will build, own and operate a produced water pipeline connecting Callon’s Spur acreage in Ward County, Texas to saltwater disposal wells in the Central Basin Platform.

Goodnight Midstream said volumes of disposed water would be transported to the Central Basin Platform, which is a porous and shallow formation which has the capacity to store millions of barrels of produced water in the decades to come.

Goodnight Midstream’s assets include a network of 170 miles of water gathering pipelines connected to 18 saltwater disposal wells in North Dakota and 10 produced water gathering facilities located in the Permian Basin. The company has its corporate office in Dallas, and operations in the Williston, Powder River, Permian and Eagle Ford Basins.

Callon Petroleum is an operator in the Midland Basin. The completion of the disposal pipeline will substantially reduce its costs of transporting disposal water.

Source: Callon Petroleum Acquisition Presentation

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