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Lilis Inks Crude Oil Gathering Agreement with Salt Creek

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   |    Wednesday,May 23,2018

Lilis Energy has inked a crude gathering agreement with ARM affiliate, Salt Creek Midstream, who is developing a new pipeline that will connect to a gathering terminal in Winkler County, TX.

The Winkler terminal will allow Lilis to directly access long-haul downstream pipelines that are connected to Midland, Texas, and the Gulf Coast region. The project is supported by a dedicated Area of Mutual Interest, which covers all of Lilis’ current acreage in Lea County, New Mexico, and Winkler and Loving Counties in Texas. Lilis will provide its acreage dedication with no volume or CAPEX commitments and Salt Creek will provide all capital for the oil gathering system.

In addition to the crude oil gathering agreement, Lilis and Salt Creek have also entered into an agreement whereby Lilis received cash consideration in exchange for granting Salt Creek options to provide certain natural gas midstream services for Lilis’s gas produced within an Area of Mutual Interest.

No other details about the project were released.

 

 

 

 

 





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