Houston-based Harvest Midstream enjoys the advantage of operating in six of the seven states where its brawny big brother, Hilcorp, produces loads of oil and gas. Since its formation as a subsidiary in 1993, Harvest has acquired and expanded its assets in Alaska, Colo., N.M., Ohio, Penn., and Texas to include 6,000 miles of pipeline; natural gas, NGLs, and crude gathering, processing and treatment; and storage and terminal services.
Reese Energy Consulting today is following the latest news from Harvest, which will now add to its South Texas footprint and enter new territory in the Bakken with the acquisition of Paradigm Midstream. While the price wasn’t disclosed, the purchase includes the Eagle Ford Gathering System comprised of 76 miles of crude oil gathering and transportation pipelines and the 29-mile Zavala Racer pipeline and storage.
But the overwhelming lion’s share of the deal lies in N.D. There, Harvest will pick up three oil and gas gathering systems, the 94-mile Sacagawea crude pipeline, the 24-mile Blue Buttes natural gas pipeline, the Keene Central Delivery Point with 490 MBbls of storage, the 710-acre Palermo Rail Terminal with loading capacity of 100 MBPD and up to 2.4 MBbls of storage, and ownership interests in two joint ventures with Phillips 66 to develop midstream infrastructure.