Altus Midstream acquires interest in Shin Oak NGL pipeline

Houston-based Altus Midstream said July 31 it has closed on a transaction to acquire 33 percent equity interest in the subsidiary of Enterprise Products Partners that owns Shin Oak NGL pipeline. The 658-mile pipeline, placed into service in February, transports NGL production from Permian Basin and other plays to Enterprise’s NGL fractionation and storage comlex in Mont Belvieu. NGLs for the Shin Oak system are sourced primarily from Enterprise’s Orla gas processing complex in Reeves County and also from Apache’s Alpine High play. Shin Oak ultimately will have capacity of 550,000 barrels per day of NGLs by 2019Q4.