Lotus Midstream is an independent energy company established in early 2018 focused on the organic development of midstream infrastructure and services necessary to transport crude oil and condensate from the wellhead to market. Lotus also is pursuing strategic acquisition opportunities.
In August 2018 Lotus announced the acquisition of the Centurion pipeline system and a southeast New Mexico crude oil gathering system from Occidental Petroleum Corporation. The Centurion pipeline system is a large-scale, integrated network of approximately 3,000 miles of crude oil gathering and transportation pipelines that extend from southeast New Mexico across the Permian Basin of West Texas to Cushing, Oklahoma. Integrated assets also include two crude oil storage terminals strategically located in the Midland, Texas, and Cushing market centers with a combined storage capacity of approximately seven million barrels and more than 125 truck stations. The system is designed to connect the nation’s premier supply basin to key market centers. The southeast New Mexico gathering system includes more than 50 miles of crude oil gathering pipelines with connections to the Centurion pipeline system and a third-party intrabasin system and related infrastructure.
Lotus is led by a highly experienced management team with complementary skill-sets. Lotus’ founders have been working together for approximately five years and have more than 55 years of collective industry experience.