Trace Midstream Announces New Focus Area in the Haynesville Shale
HOUSTON--(BUSINESS WIRE)--Jan 31, 2020--
Trace Midstream (“Trace”) and Gemini Midstream (“Gemini”), each a portfolio company of Quantum Energy Partners (“Quantum”), announced the combination of management teams to focus on the continued growth and expansion of the Gemini Carthage Pipeline (“GCP”), an existing 50-mile natural gas system in Harrison and Panola Counties, Texas, capable of delivering in excess of 1.2 billion cubic feet per day (bcf/d) of high pressure, dry natural gas into the Carthage area.
The combination of Trace and Gemini’s highly skilled workforces and senior management teams provides customers with a dedicated team of energy professionals. Going forward, the combined team will operate as Trace Midstream and Josh Weber will assume the role of Chief Executive Officer with John O’Shea as Chairman of the Board.
“Since its initial in-service date of May 2019, GCP has seen a significant ramp in volumes from its two anchor producers, Rockcliff Energy and Tanos Exploration,” said Josh Weber, Trace Chief Executive Officer. “GCP offers its customers access to premium and growing liquified natural gas export and industrial markets along the Texas and Louisiana Gulf Coast. We look forward to continuing to offer safe, reliable and competitive midstream services that our producer customers have come to expect from the Trace team.”
Additionally, Trace has begun construction of the Gemini Gulf Coast Pipeline (“GGCP”), a new 36-inch, 150-mile natural gas pipeline capable of delivering 1.5 bcf/d of natural gas to downstream markets in the Beaumont area. Phase I of GGCP is expected to be operational in May 2020.
Trace will remain headquartered in Houston, Texas and will continue to operate its East Texas assets from its field office in Marshall, Texas.
About Trace Midstream Partners, LLC
Houston-based Trace Midstream provides midstream solutions to producers with a focus on customer service, safety and operational excellence. Trace Midstream has operations in the Eagle Ford Shale and the Haynesville region. For more information visit www.tracemidstream.com.
About Quantum Energy Partners
Founded in 1998, Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates more than $17 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumep.com or contact Michael Dalton at (713) 452-2110. To discuss an investment opportunity with Quantum, please contact Eric Nielsen at (713) 452-2050.
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CONTACT: Trace Midstream
Redbird Communications Group
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: OIL/GAS ENERGY
SOURCE: Trace Midstream
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PUB: 01/31/2020 08:30 AM/DISC: 01/31/2020 08:30 AM