Cardinal Midstream Partners announced it has signed definitive agreements with Medallion Midstream Services to acquire Medallion’s natural gas gathering and processing business in the Delaware Basin in West Texas. The transaction is subject to customary closing conditions and is expected to close in early 2023.
Cardinal Midstream Announces Acquisition of Natural Gas Business in Prolific Delaware Basin
Industry Veterans Form Cardinal Midstream Partners, Secure Initial $300 Million Capital Commitment from Encap Flatrock Midstream
Cardinal Midstream Partners, a newly-formed independent midstream company based in Dallas, announced today it has secured an initial capital commitment of $300 million from EnCap Flatrock Midstream (“EnCap Flatrock”). Led by a team of industry veterans with a proven track record of success and value creation, Cardinal will pursue acquisition and development opportunities in prolific basins across North America with a focus on natural gas gathering and processing as well as congruent carbon capture and sequestration.
American Petroleum Institute