Founded in 2009, Rangeland Energy targeted development and acquisition opportunities in North Dakota's emerging Bakken oil-shale play in North Dakota. The company developed the COLT Hub, North Dakota's largest open-access crude oil loading terminal. On December 7, 2012, Inergy Midstream, L.P. (NYSE: NRGM) completed the acquisition of the COLT Hub and related assets, for $425 million.
Formed in early 2013 Rangeland Energy II, LLC focused on the construction, expansion and operation of the RIO System, which serves producers in the Delaware Basin. Rangeland Energy II was sold to Tesoro Refining & Marketing Company LLC, a wholly owned subsidiary of Andeavor (NYSE: ANDV) for an undisclosed amount in the first quarter of 2018.
Rangeland Energy III, LLC was formed in July 2015 to pursue midstream opportunities in resource plays across North America. Rangeland III will target crude oil logistics opportunities, leveraging its extensive experience and expertise in the Bakken Shale and the Delaware Basin. Complementary to Rangeland’s crude oil gathering strategy in areas of growing crude oil production, there also exists the need for additional refined products facilities. Rangeland III is targeting acquisition and development opportunities to provide transportation, storage and terminal services for refined petroleum products.
In March 2016, Rangeland announced that the Rangeland III management team will develop the South Texas Energy Products System ("STEPS"). STEPS is an integrated hydrocarbon logistics system that receives and stores refined products, liquefied petroleum gas (“LPG”) and other hydrocarbons at a new terminal hub located on the Kansas City Southern mainline in Corpus Christi, Texas, and transport them to third party inland terminals primarily located in Mexico. Phase I off the STEPS project came into service in June 2018.
Rangeland III also has formed Rangeland Midstream Canada, Ltd., to pursue opportunities in the Western Canadian Sedimentary Basin.
Rangeland Energy's management team has a strong track record of developing, constructing, acquiring, operating, optimizing and expanding both greenfield and existing crude oil, refined products and associated natural gas midstream assets. Consistent with management’s past business success, Rangeland’s growth strategy centers around building primarily a crude oil and refined products midstream business with a lesser focus on associated natural gas opportunities.
Rangeland III management team
- Christopher W. Keene, President & Chief Executive Officer
- Robert Singleton, Senior Vice President & Chief Operating Officer
- George Dikeman, Senior Vice President & Chief Financial Officer
- John Millar, Senior Vice President & Chief Commercial Officer
- Michael Moss, Vice President, Business Development
- Avery Plank, Vice President, Business Development
- Briton Speer, Vice President, Business Development, Canada
- Scott Hornung, Vice President, Engineering & Project Management
- Eric Weise, Director of Engineering
- Nelson Segura, Vice President, Finance & Accounting