3Bear Energy LLC, Denver, has entered into definitive agreements with an unidentified anchor shipper to develop, own, and operate a gathering and processing system for oil, gas, natural gas, and water production to serve Permian producers in the northern Delaware basin of Lea and Eddy Counties, NM.
Alongside more than 100 miles of pipeline wellhead gathering for oil, gas, and water transportation, 3Bear Energy is building a central water treatment plant, a crude terminal, and a 60-MMcfd cryogenic natural gas processing plant with treating capabilities, the company said.
With an expandable design to accommodate the rapid production growth in the Delaware basin, the system is scheduled to begin operations in first-quarter 2018.
Backed by long-term partner GSO Capital Partners LP, the credit investment arm of The Blackstone Group LP, New York, 3Bear Energy did not reveal further details regarding the proposed development.
Contact Robert Brelsford at [email protected].