Trace Midstream Partners II, a portfolio company of Quantum Capital Group, has entered into agreements with LM Energy Delaware, a portfolio company of Old Ironsides Energy, to acquire its natural gas–gathering and transportation assets in the Northern Delaware Basin.
Located in Eddy and Lea counties in New Mexico, LM Energy’s natural gas–gathering and transportation system consists of high- and low-pressure gas pipelines with associated compression, dehydration, condensate-handling and vapor-recovery capabilities. LM Energy is constructing multiple new compressor stations, new gathering pipelines and a 20-inch diameter high-pressure transportation pipeline that will connect the existing gas-gathering system to a number of gas-processing facilities near Loving, N.M. Upon completion of these projects, the system will consist of approximately 170 miles of pipeline and 12 compressor stations, with a total design capacity of 650 million cubic feet per day. The system has mor