Thursday, January 26, 2012

Caballo Energy acquires Eagle Chief Midstream, LLC

TULSA, Okla. - Caballo Energy, LLC announced on Jan. 18 that it has acquired Eagle Chief Midstream, LLC, which owns a natural gas gathering and processing system in northwestern Oklahoma.

The Eagle Chief assets are strategically located at the intersection of the liquids-rich Mississippi Lime and Cana Woodford Shale plays. Eagle Chief is connected to more than 370 wells and serves 25 producers.

The Eagle Chief system includes more than 600 miles of natural gas gathering pipelines, compression and processing assets located in Alfalfa, Blaine, Garfield, Major and Woods Counties.

In early 2013, the company will install a new cryogenic plant, bringing total natural gas processing capacity to approximately 100 million cubic feet per day (MMcf/d).

Caballo delivers processed gas to ONEOK Gas Transportation and Panhandle Eastern Pipe Line. Natural gas liquids are delivered to ONEOK NGL Pipeline. The Eagle Chief system also includes salt water disposal and crude oil gathering systems.

Caballo Energy is backed by private equity commitments from EnCap Flatrock Midstream of San Antonio.

"The Mississippi Lime and Cana Woodford Shale are two of the most exciting plays in the country," said Dennis Jaggi, one of EnCap Flatrock Midstream's three managing partners and a member of Caballo Energy's board of managers.

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