Dallas-based Cardinal Midstream Partners has signed definitive agreements to acquire Medallion Midstream’s natural gas–gathering and processing business in west Texas’ Delaware Basin. Financial terms were not disclosed.
The newly acquired midstream infrastructure includes natural gas–gathering and processing solutions for top-tier producer customers in the heart of the Delaware Basin. The system spans Reeves and Loving counties and includes approximately 80 miles of high- and low-pressure natural gas–gathering pipelines as well as a 140 million cubic feet per day natural gas–processing facility.
“This acquisition in the prolific Delaware Basin will serve as the cornerstone of Cardinal’s natural gas gathering and processing business strategy,” said Doug Dormer, CEO of Cardinal. “The business is an ideal fit to leverage our team’s core competencies and industry relationships. We look forward to expanding the asset base and providing meaningful midst