Velocity Midstream Advances Eagle Ford Project
Velocity Midstream Partners, LLC has begun construction on the initial 53 miles of its oil and condensate gathering system for Rosetta Resources Inc. and other producers in the liquids-rich Eagle Ford Shale.
Phase I of the gathering system, including a state of the art truck loading terminal near Catarina, Texas, is expected to be in service by January, 2011. Additional plans and agreements are in progress supporting Phase II construction of a pipeline from Catarina to the Gardendale Hub, where multiple Condensate and Oil options, including rail, trucking and additional take-away pipeline markets, are being staged. Velocity is focused on delivering immediate oil and condensate transportation and storage solutions for Webb, Dimmit, La Salle and surrounding counties in the Eagle Ford Shale.
Also, in October, Velocity welcomed new Vice President and Chief Operating Officer, Van Nguyen. Van was formerly Director of Engineering at Markwest Energy and brings with him an extensive background of Engineering and integrated support for Construction and Operations. Velocity will benefit greatly from his vast experience in Natural Gas, NGLs, and Liquids gathering and transportation. This addition allows Velocity to expand rapidly while continuing to pursue new growth opportunities in the Eagle Ford Shale.
Velocity Midstream Partners, formed in October 2008 and backed by Energy Spectrum Capital, is executing on a strategy of acquiring and building midstream infrastructure in developing areas of Texas, Oklahoma and Louisiana. Velocity is comprised of an experienced management team combining capital with system design, construction, and operations expertise. The Management Team, Officers and Owners of Velocity are: Richard Wilkerson—President / CEO, Van Nguyen—Vice-President / COO, and Michael Parker—Vice President / CFO.