Capital Markets | Midstream - Oil Gathering | Contract Awarded | Private Equity Activity
Paradigm, XTO Announce Bakken Shale Gathering Deal
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Paradigm Energy Partners, LLC announced that its wholly owned subsidiary, Paradigm Midstream Services – ND, LLC has successfully executed another substantial crude oil gathering agreement for Paradigm's Charlson Gathering System in the North Dakota Bakken Shale.
Paradigm reached an agreement with XTO Energy Inc. to gather crude oil from XTO's Charlson Field in northern McKenzie County for delivery to the Keene Central Delivery Point, Paradigm's 50/50 joint venture with Phillips 66 Partners LP near Johnson's Corner, ND. The significant agreement will further expand Paradigm's existing footprint in the Charlson area to approximately 70 miles of pipelines covering approximately 70,000 acres of production.
The 272 acre Keene CDP is the Commercial and Operational hub of the Paradigm system…
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