Woodland Midstream II acquires fully integrated sour gas gathering & processing system
Woodland Midstream II, LLC (“Woodland”) announced the acquisition of the James Lake System (“James Lake”) from a privately-owned seller for an undisclosed amount. James Lake represents a fully integrated sour gas gathering, treating and processing system with approximately 230 miles of pipeline, 110 MMcf/d of processing capacity and 35,000 HP of owned compression that serves producers in the Permian’s Central Basin Platform (Ector, Andrews and Winkler Counties, TX).
“James Lake has been a primary target of ours given its strategic location in the Permian Basin. This transaction represents Woodland’s first operating asset,” said Richard H. Wright, III, Chief Executive Officer. “We are thankful for the opportunity to work alongside our equity partners EIV Capital for a second time as we build a company focused around our customers, shareholders and employees.”
Woodland plans to invest additional capital into James Lake to accomplish multiple plant optimization and emissions reduction focused projects. Woodland also plans to enhance and expand James Lake’s condensate and liquids handling business.
“The acquisition of the James Lake System is an important step in realizing our vision to build a Permian-focused midstream company that brings customer service back to the focal point,” said Darin Aucoin, Chief Commercial Officer.
While James Lake represents this iteration of Woodland’s first operating asset, it is not the team’s first venture. Woodland’s executive team has over 75 years of energy experience, including the Permian.
“I look forward to working in the Permian where I began my career at a sour gas facility and developed long term relationships in the midstream business” said Doug Coleman, Chief Operating Officer.
Editorial Comment: The Future of FLNG: Less is More?
Global LNG export capacity is expected to increase by 45% between 2017 and 2022, to more than 400 metric MMtpy, with 90% of the new capacity coming from sanctioned projects in the U.S. and Australia. By 2050, this capacity is anticipated to exceed 700 MMtpy. Regasification capacity is anticipated to increase even more sharply.
Executive Viewpoint: Back to production: Where we’re going, we don’t need pipelines
What if a cost-effective way existed to extract and distribute natural gas, regardless of proximity to pipeline, and bring those assets back to production? What if the industry went in a direction that did not need pipelines? For those looking to monetize unproductive natural gas assets or bring unproductive wells back to production, it would be revolutionary.
Regional Focus:Australia to boost LNG exports despite domestic gas shortage
Australia is planning further increases in LNG production and exports over the next decade, despite quickly depleting reserves and a looming supply shortage in the domestic market.
GasPro 2.0: A Webcast Symposium
Following on the heels of the highly successful GasPro 2.0 Webcast Symposium in October 2018, the second GasPro Webcast Symposium 2.0 will take place on October 24, 2019.
The 2019 web event will gather experts in the fields of LNG, gas processing, and gas transport/distribution to share their operations expertise, engineering and design solutions, and technology advances and trends with our audience.
Attendees will learn about technology and operational solutions and deployments in a number of areas: plant design and expansion, construction, NGL production, optimization, sulfur removal, marine operations and separation technology.
October 24, 2019 08:30 AM CDT