Fort Worth-based Brazos Midstream said Nov. 3 it acquired assets in Delaware and Midland basins of Permian Basin in two transactions. Brazos Delaware acquired the Pecos gas gathering system from Diamondback Energy and midstream affiliate Rattler Midstream. And newly formed Brazos Midland also acquired Diamondback’s Mustang Springs gas gathering system.
Brazos has operated the Pecos system in southern Delaware Basin for Diamondback since 2017. It will add 150 miles of natural gas gathering pipeline and four associated compressor stations to complement Brazos’ existing high-pressure natural gas gathering system and cryogenic processing complex in Reeves County. Mustang Springs in northern Midland Basin also serves Diamondback in central Martin County. Brad Iles, Brazos CEO, said, “The Pecos system is a perfect bolt-on acquisition for our existing Delaware Basin business and will allow Brazos to extend our reach to new producer customers.” He said forming Brazos Midland will “complete the acquisition of a high-quality asset supported by Diamondback’s strong existing production and robust development plans.”