Cardinal Midstream Announces Acquisition Of Natural Gas Business In Prolific Delaware Basin
11/02/22, 9:45 PM
Industry
oil and gas
energy
Cardinal Midstream Partners (“Cardinal”), an independent midstream energy company based in Dallas, announced today it has signed definitive agreements with Medallion Midstream Services (“Medallion”) to acquire Medallion’s natural gas gathering and processing business in the Delaware Basin in West Texas. The transaction is subject to customary closing conditions and is expected to close in early 2023.
Company Info
Company info
Based in Dallas, Cardinal Midstream Partners was founded in 2022 and is focused on the pursuit of midstream acquisition and development opportunities across North America, specifically natural gas gathering and processing and congruent carbon capture and sequestration. The company is led by four founders: Chief Executive Officer Doug Dormer; Chief Financial Officer Douglas Gale; Chief Commercial Officer Justin Garrity; and Chief Operating Officer Clayton Hewett. With more than 80 years of combined experience in the energy industry, the founders each have built notable careers creating, managing, constructing, and operating successful midstream businesses through full life cycle. For more information, visit cardinalmp.com.