Twin Eagle Resource Management has announced the acquisition of a 100% interest in StarMex Big Wells, a 42mi crude oil gathering system in the Eagle Ford shale region that connects to major long-haul pipelines in the Gardendale area. As of closing, StarMex Big Wells will be renamed Twin Eagle Gardendale Pipeline.
Located in one of the Eagle Ford's most prolific areas, the system is surrounded by several producers with substantial production and significant continued drilling plans. The pipeline system has capacity of 35,000 b/d and is backed by long-term, fee-based contracts with existing customers that are currently committed to ship approximately 24,000 b/d. The acquisition expands Twin Eagle's midstream footprint in the Eagle Ford and represents another important step forward in its growing portfolio of strategic midstream assets throughout many of the country's major basins, including the Permian, DJ, Niobrara and the Bakken.
Simmons & Company International acted as exclusive financial advisor to StarMex in connection with the transaction.
Image: Twin Eagle poster announcing StarMex sale/Simmons & Company