Xplorer Midstream, Woodford Express to merge, expand Grady gas plant
HOUSTON, TX; OKLAHOMA CITY, OK; TULSA, OK – Quantum Energy Partners is pleased to announce the combination of two of its portfolio companies – Xplorer Midstream LLC, owner and manager of Woodford Express, LLC, and Intensity Midstream LLC.
Roger Farrell, CEO of Xplorer, will join the Intensity Board of Directors as Chairman. Joe Griffin, co-founder and CEO of Intensity, and Derek Gipson, co-founder and CFO of Intensity, will assume all CEO and CFO-related duties for the combined entities. Prior to forming Intensity, Griffin and Gipson most recently served as President and CEO and Executive Vice President and CFO, respectively, for Hiland Partners, LP. Intensity will continue to be headquartered in Tulsa, OK and will also maintain Xplorer’s office in Oklahoma City, OK.
“This combination is truly a win-win for Xplorer, Intensity, our customers, investors and employees,” said Farrell. “Intensity provides a platform allowing for a growing presence in the prolific SCOOP play and for expansion into other resource plays throughout the United States.”
The key assets of Xplorer currently include 210 MMcf/d of cryogenic gas processing capacity in the heart of the SCOOP play in Grady County, OK, 5,000 Bbls/d condensate stabilization capacity, 210 MMcf/d of amine treating capacity, 34 miles of 16-inch and 20-inch mid-pressure gathering trunk lines in Grady and Stephens counties, 68 miles of associated gathering laterals and 3,000 HP of field compression.
In conjunction with the combination, the Intensity and Xplorer Boards have approved a 200 MMcf/d expansion of the Grady Plant to support increased drilling activity in the SCOOP play from Woodford’s existing and future customers. After completion of the expansion, which is expected to be online in the fourth quarter of 2017, the Grady Plant will have approximately 410 MMcf/d of processing capacity, with the site being designed to accommodate another 200 MMcf/d processing train as production growth continues.
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