Liquids-Rich Plays, Residual Oil Zone Projects Have Permian Booming
The American Oil & Gas Reporter
Nuevo Midstream LLC, a startup midstream company based in Houston, announced in April that it had secured a $65 million equity commitment to help it develop and operate midstream infrastructure for gas producers in the Permian Basin, with specific emphasis on the Bone Spring, Wolfcamp and Avalon Shale.
Equity backing for the new company comes from the EnCap Flatrock Midstream’s Energy Infrastructure Fund, Torch Energy Advisors Incorporated and Petroleum Fuels Company Inc. Jay Lendrum, president of Torch Energy, is serving as chief executive officer for Nuevo Midstream.
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