Outrigger Energy II LLC (Outrigger) announced that it has completed the sale of its midstream system in Weld County, Colorado to Summit Midstream Partners, LP (Summit).
Outrigger’s DJ Basin system includes a 60 MMcfd cryogenic natural gas processing plant with product deliveries to the Cheyenne Plains gas pipeline and DCP’s natural gas liquids (NGL) system, approximately 70 miles of low-pressure natural gas gathering pipelines, approximately 90 miles of high-pressure natural gas gathering pipelines, 12,800 horsepower of field and plant compression and approximately 30 miles of crude oil gathering pipelines with delivery to the Pony Express Pipeline. Outrigger’s DJ system is anchored by long-term, fee-based contracts and approximately 310,000 dedicated acres from leading basin operators.
Dave Keanini, Outrigger’s President & CEO, stated, “The robust midstream system we developed in the DJ Basin proved attractive to potential purchasers and this transaction with Summit delivers a positive outcome for our customers, employees, and investors. Further, the system’s extensive high-pressure gas gathering footprint provides an excellent platform for interconnectivity with multiple midstream systems in the DJ Basin, including Summit’s system. We have confidence that Summit’s experienced team will provide excellent service to the producer community and continued efficient consolidation and operation of midstream assets in the basin.”
