HOUSTON, April 18, 2018 /PRNewswire/ — Canyon Midstream Partners II, LLC (“CMP2”) announced today that it has commenced operations at its newly constructed natural gas processing facility in Woodward County, Oklahoma (the “Redcliff Plant”). The Redcliff Plant processes gas volumes gathered on an extensive pipeline system constructed by CMP2 in Oklahoma’s Woodward, Dewey, Blaine and Canadian counties (the “Redcliff Gathering System”). The Redcliff system serves producers across more than 57,000 dedicated acres in the volatile oil, condensate and wet gas windows of the highly economic STACK play.
The Redcliff Plant provides its customers with 200 million cubic feet per day (MMcf/d) of GSP cryogenic gas processing capacity and access to premium residue gas markets on ANR and Southern Star Central. The Redcliff Gathering System currently includes 84 miles of 20″ steel trunkline and five field compression stations with 21,000 hp of installed compression. An additional 5,500 hp of compression is on order in anticipation of well completions scheduled over the next six months. Based on recent well results and projected volumes dedicated to the Redcliff system, CMP2 has commenced preliminary evaluation and design work for a second 200 MMcf/d processing train at the Redcliff Plant.
“The commencement of operations at our Redcliff project represents an exciting milestone for our company and a tremendous accomplishment by our project management team over the past 13 months. The multiple productive zones and outstanding well results in our service territory underscore the need for efficient and reliable midstream infrastructure to support the development plans of our producer customers,” said Michael Walsh, President and CEO of CMP2. “We believe our plant’s location provides Redcliff customers with access to the most attractive markets, and anticipates takeaway requirements for future production growth.”
Dale Harper, SVP of Engineering and Operations at CMP2, added: “The Redcliff pipeline, field stations and plant have been designed for expansion as the area moves toward multi-well pad development. Our experienced operating team is dedicated to providing our customers with responsive and dependable service, day in and day out.”
ABOUT CANYON MIDSTREAM PARTNERS II, LLC
CMP2 is a Houston-based company formed to acquire, develop and operate midstream energy companies and assets. The CMP2 team is led by Michael Walsh, President; Mark Fuqua, SVP Business Development; and Dale Harper, SVP Engineering & Operations. CMP2 is backed by $200 million in equity commitments from Kayne Anderson Energy Fund VII and the CMP2 management team. CMP2 seeks opportunities to create long-term value for its customers, investors and employees through operational improvements, organic and strategic growth and efficient capital investment. For more information, visit www.canyonmidstream.com or contact CMP2 at firstname.lastname@example.org.
ABOUT KAYNE ANDERSON ENERGY FUNDS
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on niche investing in upstream oil and gas companies, energy and infrastructure, specialized real estate, growth equity and both private credit and diversified liquid credit. Kayne Anderson’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. Kayne manages $26 billion in assets (as of 2/28/2018) for institutional investors, family offices, high net worth and retail clients and employs over 300 professionals in eight offices across the U.S.
Through Kayne Anderson Energy Funds, the firm has raised over $6.3 billion of committed capital dedicated to energy private equity investments in primarily upstream and midstream oil and gas companies. Currently, KAEF has approximately 25 active portfolio companies focused on upstream and midstream oil and gas assets across North America. The firm is headquartered in Los Angeles with offices in Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton. For more information, please visit www.kaynecapital.com.