Private equity-backed Elevate Midstream Partners LLC entered into an eight-year natural gas gathering and treating contract with Haynesville Shale-focused producer Sabine Oil and Gas Corp.
Augmenting Elevate Midstream's existing asset base in the Carthage area in Texas, the company would construct about 19 miles of 16-inch gas gathering pipelines, associated laterals and other facilities, according to an Aug. 19 news release. The planned system is designed to connect the area to downstream takeaway markets and support the agreement with Sabine Oil and Gas.
"With our existing assets strategically located in the core of the Haynesville and Cotton Valley formations, this new pipeline will both expand our footprint and provide access to the competitive Carthage hub markets for our customers," Elevate Midstream CEO Roger Fox said.
Elevate Midstream reached the agreement in partnership with private equity firm Tailwater Capital LLC, Elevate Midstream's financial sponsor.
Elevate Midstream is a Houston-based private midstream service provider focused on the East Texas region. Sabine Oil and Gas is an exploration and production company with onshore oil and gas properties in the U.S.
