Pin Oak Midstream Acquires Assets from Laurel Mountain Midstream in NW Pennsylvania
AKRON, Ohio–(BUSINESS WIRE)–Pin Oak Midstream LLC (“Pin Oak Midstream” or the “Company”), a wholly owned subsidiary of Pin Oak Energy Partners LLC, announces the closing of a transaction with Laurel Mountain Midstream LLC ("LMM”), a joint venture between Williams Laurel Mountain, LLC and Chevron Northeast Upstream LLC, to acquire LMM’s Jackson Center assets (“Jackson Center”). Jackson Center includes over 1,050 miles of natural gas gathering pipelines and five (5) gathering compressor stations with a gathering capacity of over 50 MMcf/d and multiple interstate pipeline interconnects (both National Fuel Gas and Tennessee Gas Pipeline) with total interconnect capacities of almost 100 MMcf/d. The transaction adds to Pin Oak Midstream’s growing asset base within the Appalachian Basin.
Brent Breon, President of Pin Oak Midstream LLC and Chief Commercial Officer of Pin Oak Energy Partners LLC, stated, “These assets in Mercer, Lawrence, and Crawford counties of Pennsylvania are a great fit to our expanding footprint and further bolster the Company’s midstream assets in the oil and wet gas windows of the Utica play in northwestern Pennsylvania. The Jackson Center assets currently gather conventional and unconventional gas from third party operators in the area and will allow Pin Oak Energy to connect and produce Utica wells currently waiting on pipelines. Additionally, Pin Oak remains committed to our ongoing efforts of executing our growth strategy through acquisitions even during these difficult times.”
Pin Oak Midstream’s Appalachian Basin position consists of nearly 1,200 miles of pipeline assets; 13 interstate pipeline interconnections; gathering, processing and transportation dedications on more than 150,000 dedicated net deep acres (Marcellus and Utica) and current flowing volumes more than 15 MMcf/d.
About Pin Oak Midstream
Pin Oak Midstream is an Appalachian Basin midstream company and a wholly owned subsidiary of Pin Oak Energy Partners LLC. The Company is engaged in the gathering, processing, and transportation of hydrocarbons within its geographical area of focus.
About Pin Oak Energy
Pin Oak Energy Partners LLC and its subsidiaries are Appalachian Basin energy companies engaged in the exploration and production of conventional and unconventional oil and natural gas assets, along with the operation and ownership of midstream pipeline systems. The Company currently operates wells producing 24 MMcfe/d gross and nearly 12.0 MMcfe/d net (16% liquids), nearly 1,200 miles of midstream assets, and maintains 217,000 net acres (207,000 net deep acres) in the basin. Visit Pin Oak Energy at www.pinoakep.com.
Mark H. Van Tyne
1-888-748-0763 Ext. 701