Cardinal Midstream Partners, an independent midstream energy company based in Dallas, announced it has closed its previously announced acquisition of Medallion Midstream Services’ (“Medallion”) natural gas gathering and processing business in the prolific Delaware Basin in West Texas.
The newly acquired business spans Reeves and Loving counties and includes approximately 80 miles of high- and low-pressure natural gas gathering pipelines and a 140 million cubic feet per day (MMcf/d) natural gas processing facility.
“We are excited to have completed this transaction as it positions us for significant growth and future bolt-on opportunities in the heart of one of the most prolific basins in the United States,” said Doug Dormer, Cardinal Chief Executive Officer. “We believe that clean burning natural gas will continue to play an important role in the energy mix, driving global demand, upstream production, and accompanying midstream infrastructure. These assets are an ideal cornerstone for our business, and we look forward to meaningfully growing our footprint over time.”
