Midstream - Pipelines | Capital Markets | Private Equity Activity
Medallion Midstream Puts Midland Basin System in Service
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Medallion Pipeline Company, LLC, a subsidiary of Medallion Midstream, LLC, has successfully commenced operations of approximately 97 miles of its Midland Basin crude oil gathering and transportation system.
On October 10, 2014 Medallion began initial deliveries of crude oil into the BridgeTex Pipeline from its 60 mile Wolfcamp Connector pipeline and approximately 37 miles of its Reagan Gathering Extension pipeline. The Medallion system has initial capacity to accept 65,000 barrels per day of crude oil and is scalable to approximately 150,000 barrels of oil per day. An open season for capacity on both pipelines was closed successfully on February 3, 2014. Medallion expects the remaining portion of its Reagan Gathering Extension along with truck unloading stations at its Reagan Station and Garden City Station to be operational before the end of the year.
Randy Lentz, CEO of Medallion, commented: "I am extremely proud of the Medallion team for bringing our crude oil system into service safely and on schedule. Medallion’s crude oil system provides a critical intra-basin link between our customer’s oil production and multiple long haul take-away pipelines at Colorado City, including the BridgeTex Pipeline that is now moving crude oil out of the constrained Midland Basin to the Gulf Coast."
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