Fort Worth-based Brazos Midstream said it is constructing Sundance, a new 200 million cfd natural gas processing plant in Martin County, as part of its plan to duplicate in Midland Basin its success in Delaware Basin since its founding in 2014. William Butler, CFO, told Midland Reporter Telegram last month, “We’re building the backbone over the next 12 to 18 months. We’re entering into contracts. We plan to repeat our success in the Midland Basin.”
One of the largest privately held midstream companies in Permian Basin, Brazos has about 500,000 dedicated acres by 28 customers, including Callon Petroleum, ConocoPhillips, Continental Resources, Diamondback and ExxonMobil. Acquisitions from Callon, Jetta Operating and Rattler Midstream have boosted Brazos’ growth.
Brad Iles, CEO, told the Reporter Telegram that being private and smaller creates advantages. “We can make economic decisions that are in our best interest and in the customer’s best interest – not in the interest of quarterly reports,” he said. “That focus can drive us to make different decisions in the field.”