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Permian Midstream Blitz: Four Companies Shell Out $6.1B for Assets
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[Summary: After the increase in drilling activity in the Midland and Delaware basins, midstream operators are all vying for a piece of the Permian pie.
In a span of four months, four companies spent a total of $6.1 billion on midstream assets. ]
This graph depicts the drilling activity in Eagle Ford, Bakken, Niobrara vs. the increased drilling activity in the Permian.
On January 23, Targa Resources purchased Outrigger’s natural gas and crude oil gathering and processing systems for $1.5 billion. The system is located in the northern portion of the Delaware Basin and is supported by substantial acreage dedications from several producers active in this portion of the Delaware Basin.
Plains All American / Frontier, ConchoQuick to follow, Plains All American spent $1.2…
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