Harvest Midstream Acquires Paradigm Midstream
05.03.2023 By TankTerminals.com - NEWS

May 3, 2023 [Citybiz] – Harvest Midstream announced that it closed on the acquisition of Paradigm Midstream from funds managed by Ares Management’s Infrastructure Opportunities strategy after agreeing to the purchase on February 24, 2023.

 

“We are pleased to complete this transaction,” said Harvest CEO Jason C. Rebrook. “The addition of the Paradigm systems will enable us to further expand our services in the Eagle Ford and develop new long-term relationships in North Dakota.”

The newly acquired systems include four wholly owned gathering systems known as the Charlson Gathering System, Van Hook Gathering System, Mountrail Gathering System, and Eagle Ford Gathering System. In total, the systems transport over 110,000 barrels of oil per day, approximately 75 MMcf/d of natural gas, and include approximately 350 miles of trunk lines and gathering lines for oil, gas, and water.

The purchase also includes Paradigm’s ownership interest in two joint ventures with Phillips 66. The joint ventures own all of the Keene and Palermo storage terminals and 99% of the Sacagawea crude lines and the Blue Buttes gas line.

Harvest Midstream:

Harvest Midstream is a privately held midstream service provider based in Houston, TX that operates various crude oil and natural gas gathering, storage, transportation, treatment and terminalling assets across the United States.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Tangier Island Awarded $2.3 Million Grant for Fuel Storage
06.20.2024 - NEWS
June 20, 2024 [National Fisherman]- Tangier Island, Va., sits in the middle of Chesapeake Bay wit... Read More
Sweco Supports VoltH2 in Design and Development of New Green Hydrogen Plant in The Netherlands
06.20.2024 - NEWS
June 20, 2024 [Public Now]- The European energy company VoltH2 has selected Sweco as its partner ... Read More
ONEOK Completes Acquisition of Gulf Coast NGL System
06.20.2024 - NEWS
June 20, 2024 [ONEOK]- ONEOK, Inc. announced that it has completed its acquisition of a system of... Read More
Phillips 66 Refining Margins Tighten on TMX Expansion Start-Up
06.20.2024 - NEWS
June 20, 2024 [Market Screener]- U.S. refiner Phillips 66 said on Tuesday its margins have tighte... Read More