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Meritage Midstream Services’ New Plant More than Doubles Its Natural Gas Processing Capacity in Wyoming’s Powder River Basin

May 13, 2019

DENVER--(BUSINESS WIRE)--May 13, 2019--

Meritage Midstream Services II, LLC (“Meritage Midstream” or “Meritage”) today announced it will more than double the natural gas processing capacity on its supersystem in Wyoming’s Powder River Basin. Meritage subsidiary Thunder Creek Gas Services, LLC (“Thunder Creek”) currently is constructing a new, cryogenic processing plant in Converse County, Wyoming, several miles west of the town of Douglas. Known as Steamboat I, the new plant will have a nameplate capacity of 200 million cubic feet per day (MMcf/d) and is expected to come into service early in the third quarter of 2019, bringing Meritage Midstream’s total processing capacity in the basin to 380 MMcf/d. The Steamboat complex is large enough to accommodate two additional 200 MMcf/d cryogenic processing plants as customer demand warrants.

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Construction of Steamboat I, Meritage Midstream’s natural gas cryogenic processing plant in Wyoming’s Powder River Basin (Converse County). (Photo: Business Wire)

Strategically located in the southern portion of the basin, the Steamboat plant complements Meritage Midstream’s 50 Buttes plant located in Campbell County near Gillette, Wyoming, approximately 100 miles north of the Steamboat complex. Now under construction and nearing completion, a 20-inch trunk line will connect the Steamboat I plant to Meritage Midstream’s Thunder Creek gas gathering system. Steamboat I will connect to the Wyoming Interstate Company (WIC) mainline system for residue gas. NGLs currently flow to Phillips 66 and ONEOK.

Construction of the Steamboat I plant is supported by multiple long-term acreage dedications of more than 1 million acres. Meritage is the preeminent midstream provider in the basin with more than 1,200 miles of pipeline in operation, approximately 190 miles under construction and 150,000 of compression horsepower ( map here ).

CEO Perspective

“Meritage has grown year over year since we acquired Thunder Creek in 2013, and we now have the largest midstream footprint in the Powder River Basin,” said Meritage CEO Steve Huckaby. “Our growth is the result of the strong relationships we have developed with most of the basin’s leading producers as well as the qualities of the basin itself. The PRB is a long-lived generational basin with multiple economic formations. Wyoming is an industry-friendly state that does an outstanding job of balancing economics with stewardship of the environment. We look forward to continuing to provide our producers with best-in-class infrastructure, customer service and connectivity.”

About Meritage Midstream Services

Based in Denver, Meritage Midstream provides oil and gas producers with a full complement of midstream services through affiliated companies that operate in the U.S. Meritage is currently focused on Wyoming’s Powder River Basin. Capabilities include natural gas gathering, compression, treating and processing; NGL transportation and fractionation; crude oil gathering, blending and storage; and rail hub services for outbound crude oil and condensate. The company’s senior management team has more than 250 years of collective experience in the midstream business. Meritage Midstream is backed by equity commitments from Riverstone Holdings LLC. Please visit  www.meritagemidstream.com for more information.

About Riverstone Holdings LLC

Riverstone is an energy- and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $39 billion of capital raised to date. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the global energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed over $38 billion to more than 160 investments in North America, Latin America, Europe, Mexico, Africa and Asia. Visit www.riverstonellc.com for more information.

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CONTACT: Casey Nikoloric

TEN|10 Group, LLC

303.433.4397, x101 o

303.507.0510 m

casey.nikoloric@ten10group.com

KEYWORD: UNITED STATES NORTH AMERICA COLORADO WYOMING

INDUSTRY KEYWORD: ENERGY OIL/GAS OTHER ENERGY

SOURCE: Meritage Midstream Services

Copyright Business Wire 2019.

PUB: 05/13/2019 03:00 PM/DISC: 05/13/2019 03:01 PM

http://www.businesswire.com/news/home/20190513005495/en