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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Matador acquires Lane natural gas system from Summit Midstream

June 16, 2022 by PBOG

Dallas-based Matador Resources said last week it agreed to acquire a gas gathering and processing system in northern Delaware Basin from Summit Midstream Partners for $75 million.  The Lane gathering and processing system, located in Eddy and Lea counties in New Mexico, includes a cryogenic processing plant (60 million cfd capacity), three compressor stations and 45 miles of gathering pipelines.  Matador also will assume certain takeaway capacity on the Double E pipeline operated by Summit.  Closing is expected this month.

Joseph Wm. Foran, Matador founder, chairman and CEO, said June 9, “We expect to expand the Lane E&P system to support our environmental, safety, exploration and production efforts in northern Eddy and Lea counties.”

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February 2023

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