[Context: On December 6, Wolf Midstream Partners announced a crude oil midstream project in the Permian. It is backed by Sinclair Oil and Cowboy Midstream. Further details and related links are below.]
Wolf Midstream Sinclair Oil Cowboy Midstream
Wolf Midstream Partners Plans New Permian Basin Crude Oil Gathering and Terminal System
DALLAS–December 06, 2017–(BUSINESS WIRE)–Wolf Midstream Partners (Wolf), a full-service midstream provider, announced today that it has executed a crude oil gathering and transportation agreement with an independent producer for approximately 25,000 dedicated gross leasehold acres in the prolific Permian Basin of West Texas.
To support the agreement, and other area producers as needed, Wolf plans to construct approximately 50 miles of new crude oil gathering pipelines with an expected capacity of 55,000 barrels per day. Additionally, Wolf has established a delivery point near Colorado City, Texas, and plans to construct terminal facilities, with interconnects into multiple downstream pipelines.
“We are excited about this partnership with a seasoned operator and look forward to building out this new system,” said Curtis Ewers, Wolf Midstream chief executive officer. “The Wolf team has a long and successful history developing midstream solutions that provide producers with creative, reliable service. This new system will solidify our position in the Permian region, where we remain very focused on deploying the necessary capital and developing the infrastructure needed to address our customers’ long-term and immediate needs.”
Construction activities have begun, and Wolf expects the new system to start service in the second quarter of next year.
Wolf Management Team
Headquartered in Dallas, Wolf was formed in June 2017 to provide efficient, cost-effective gathering, treating, processing, compression and transportation services to oil and gas producers. The company’s four managing partners have a strong track record of more than 50 years of experience in the industry, having constructed and developed midstream assets in excess of $500 million in the Barnett Shale, Utica Shale, Williston Basin, Eagle Ford Basin and Permian Basin.
The Wolf management team includes Curtis Ewers, chief executive officer, who most recently managed a broad spectrum of regulatory affairs for EnLink Midstream; Chris Valenti, chief commercial officer, who helped co-found BlueJack Energy Solutions and also served as vice president of business development for M3 Construction; Peter Lee, chief financial officer, who has held management and consulting roles with Rockland Capital Partners, Energy Futures Holdings, DFW Midstream and Summit Midstream; and Montana Howell, chief operations officer, who has served as an engineer and project manager for more than $4 billion in assets for EnLink Midstream.
Wolf is financially backed by Sinclair Oil Corporation and Cowboy Midstream, both privately-held, longstanding, family companies.
“Our partnership with Sinclair and Cowboy Midstream combines a seasoned pedigree of energy investing in North America with a first-class team of executives that have a strong track record of success in the midstream industry,” said Ewers. “We look forward working together, building on a successful relationship and creating a meaningful and valuable endeavor.”
“Wolf’s leadership team has a promising vision and an impressive track record of success,” said Mark Petersen, president of Sinclair Transportation Company. “We are pleased to support the growth of the company and are confident in the team’s ability to execute, deliver on promises, and create value.”
“Cowboy is very excited to partner with the Wolf team. The team has an impressive resume with success and leadership in the midstream industry,” said Tony Cercy, managing partner of Cowboy Midstream. “We are honored to be a part of the project and look forward to its success.”
ABOUT WOLF MIDSTREAM PARTNERS
Dallas-based Wolf Midstream Partners is a full-service midstream provider specializing in the gathering, treating, processing, compression and transportation of oil and natural gas. The company is currently focused in the Permian Basin region of West Texas. Wolf is financially partnered with Sinclair Oil and Cowboy Midstream.
ABOUT SINCLAIR OIL CORPORATION
Sinclair is a privately held Wyoming company with executive offices in Salt Lake City and more than 1,200 employees across several states. Sinclair owns and operates two refineries in Wyoming along with a network of both crude oil and finished-product pipelines and terminals in the Rocky Mountain and midcontinent regions. The company markets fuel in 24 states, supplying high-quality fuels to more than 1,300 branded stations, featuring DINOCARE™ TOP TIER™ Gasoline.
ABOUT COWBOY MIDSTREAM:
Cowboy Midstream LLC is privately held Wyoming LLC located in Casper, Wyoming. Cowboy is a newly formed midstream company, specializing in midstream investments as well as field gathering systems, transmission pipelines, truck load/unloading stations and facility system operational capabilities. The company is currently working on projects in the Rocky Mountains and Permian Basin of West Texas.