Houston-based Crestwood Equity Partners said Tuesday its natural gas gathering and processing volumes increased significantly in Delaware Basin in first quarter because of the contribution of Sendero Midstream assets and volume growth on Willow Lake system in New Mexico. During 2023Q1 natural gas gathering volumes averaged 495 million cfd (increase of 111 percent over 2022Q1), and natural gas processing volumes averaged 403 million cfd (increase of 244 percent).
Producers connected 35 wells across Crestwood’s gathering systems in Delaware Basin in Q1. Crestwood said it remains on-target to connect 120-to-130 new wells in 2023. Crestwood said it invested $22 million of growth capital in Delaware Basin in Q1 – the majority for well connects and compression growth on Sendero Midstream and Willow Lake gathering assets.
Robert G. Phillips, chairman and CEO, said May 2, “I am pleased to report a solid start to the year with first quarter operational and financial results that delivered on the expectations we set at the beginning of the year… After a significant year of M&A in 2022, we are now focused on commercializing our expanded footprints in our three core basins (Delaware, Powder River and Williston) to drive incremental throughput across our available gathering and processing capacities.”