“We are excited to participate in the Gulf Coast Express Project; the pipeline will serve as a critical transportation outlet for Permian Basin natural gas, and the pipeline capacity is fully subscribed by long-term minimum volume commitments. With our purchase of a 15% interest in GCX, we’ve taken a major step in executing on our vision of being the only publicly traded, pure-play, Permian Basin C-corporation with wellhead-to-water connectivity. The access GCX provides to the natural gas hub at Agua Dulce will allow us to participate in the full Permian-to-Gulf Coast midstream value chain,” said Brian Freed, Altus Midstream CEO and President. “With four additional equity options in top-tier, Permian Basin pipeline projects and our substantial gathering and processing system built to serve the world-class Alpine High play, we are well-positioned for long-term growth.”
Altus Midstream and/or its subsidiaries hold options to purchase equity ownership in four other planned pipelines, including:
- Salt Creek NGL Line: Option for 50% interest in an NGL header from Alpine High to Waha; operated by Salt Creek Midstream, expected in-service date in 1Q19.
- Shin Oak: Option for up to 33% interest in a long-haul NGL line to Mont Belvieu; operated by Enterprise Products Partners, expected in-service date in 2Q19.
- EPIC Crude: Option for up to 15% interest in a crude oil pipeline to Corpus Christi; operated by EPIC Midstream Holdings, expected in-service date in 1Q20.
- Permian Highway: Option for up to 33% interest in a proposed natural gas pipeline to Katy/Agua Dulce; operated by Kinder Morgan, expected in-service date in 4Q20.
