Flush with a $400 million expanded credit facility last December, Dallas-based Producers Midstream wasted little time completing Phase I of a new gathering, treating, and processing system this year in Lea County, N.M. This, while jumpstarting growth projects that relocate or repurpose its existing assets. ...

Somewhere, Tom Ward has a divining rod and it’s not the kind that leads to water. Since the launch of Okla. City-based MACH Natural Resources in 2017, Ward has stuck to his intuition to find wealth in under-performing plays in the Mid-continent. Over time, it’s become his signature to snap up lagging or bankruptcy assets in the Anadarko, Southern Kans., and the Texas Panhandle and turn that business around. ...