Harvest Midstream has signed a purchase and sale agreement with Ares Management funds for Paradigm Midstream.
“The Paradigm Systems are a perfect fit for Harvest’s expanding network of first-class midstream assets,” said Jason Rebrook, Harvest CEO. “Not only does this acquisition allow Harvest to further extend its footprint in the Eagle Ford, but with its systems in North Dakota, we will now expand our geographic presence into ne of the country’s premier, high-quality basins.”
The North Dakota and South Texas assets are comprised of four wholly owned gathering systems known as the Charlson, Van Hook, Mountrail and Eagle Ford. The Bakken assets transport nearly 100,000 barrels of oil per day and about 75 million metric standard cubic feet per day (MMcf/d) of natural gas. The South Texas Eagle Ford Gathering System assets transport about 14,000 barrels of oil per day. These systems consist of about 350 miles of trunk lines and gathering lines for oil, gas, a
