Navitas Midstream Partners LLC has acquired natural gas gathering and processing assets serving Midland and Upton counties in Texas from a subsidiary of Apache Corp. Terms of the deal were not disclosed.
The assets acquired include 114 miles of 2-12-in. low-pressure and high-pressure (LPHP) gas gathering lines, and a 30-MMcfd cryogenic processing plant.
The deal follows the acquisition of assets in Martin, Midland, and Glasscock counties from DCP Midstream LLC in September. Those assets included 1,000 miles of LPHP gas gathering lines and a 60-MMcfd cryogenic processing plant.
Navitas was formed in The Woodlands, Tex., during 2014 “to develop, acquire, and operate midstream assets across multiple basins in North America.” It received a line-of-equity investment of as much as $500 million from an affiliate of private equity firm Warburg Pincus, which sponsored both Midland basin deals (OGJ Online, June 5, 2014).
