Houston-based Trace Midstream Partners II said recently it reached agreement with LM Energy Delaware to acquire its natural gas gathering and transportation assets in northern Delaware Basin. The system in Eddy and Lea counties in New Mexico consists of high- and low-pressure gas pipelines with associated compression, dehydration, condensate handling and vapor recovery capabilities.
LM Energy also is constructing multiple new compressor stations, gathering pipelines and a high-pressure transportation pipeline to connect the existing system to multiple gas processing plants near Loving, N.M.
Josh Weber, Trace CEO, said Aug. 6, “This acquisition marks a significant milestone for Trace as we enter the northern Delaware Basin. We are excited to build upon LM Energy’s already well-executed system and track record of success.”