Riverstone Unit Acquires SCOOP/STACK/MERGE Pipeline, ROW
Mainline Midstream, LLC has acquired more than 1,000 miles of oil and gas pipeline and rights of way (ROW) in the SCOOP/STACK/MERGE resource play in Oklahoma, the wholly owned unit of Riverstone Holdings announced Wednesday.
Mainline Energy Partners, LLC, which manages the midstream company, plans to use the ROW to support development of oil and gas gathering, transport, storage, stabilization and processing facilities in the SCOOP/STACK/MERGE basin.
"We are excited to be working together with Riverstone again on this acquisition and development effort," William Shea, a member of Mainline Energy's leadership team, said in a press release. "We have enjoyed a long successful relationship since 2004 and are pleased to partner with Riverstone. The SCOOP/STACK/MERGE play is economically attractive, and our strategy is to develop infrastructure in the play, providing outlet optionality and allowing producers to focus on the drill bit and invest their capital efficiently."
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