This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Meritage Midstream Services Acquires Wyoming’s Thunder Creek Gas Services From Devon Energy And PVR Partners

Meritage Midstream Services II, LLC (“Meritage”) announced today that it has acquired 100 percent ownership of Thunder Creek Gas Services, LLC (“Thunder Creek”) from Devon Energy Corporation (NYSE: DVN) (“Devon”) and PVR Partners, L.P. (NYSE: PVR) (“PVR”). Established in 1998, Thunder Creek owns and operates natural gas gathering, treating and processing assets in Wyoming’s Powder River Basin, including more than 500 miles of high- and low-pressure gas gathering pipelines, three natural gas treating facilities, compression and gas processing facilities, and various NGL and condensate handling facilities. The transaction closed on Aug. 19.

“The Thunder Creek system is a great addition to the significant midstream footprint we are building in one of the country’s most exciting emerging shale basins,” said Meritage Midstream Chairman and CEO Steve Huckaby. “The Powder River Basin is home to multiple oil and liquids-rich formations, and producers are expanding their drilling programs at a rapid pace. We are fortunate to have a highly experienced team and the capital required to execute an aggressive plan for expansion of the Thunder Creek system.”

Meritage is also developing the Black Thunder Terminal, a joint venture with Arch Coal (NYSE: ACI). Located in Campbell County, Wyoming, at Arch Coal’s Black Thunder mining complex, the terminal will provide storage, blending and rail loading services for crude oil and condensate produced in the Powder River Basin. Meritage expects to expand the Thunder Creek gathering system to provide pipeline service to the terminal.

Huckaby said, “Meritage will be offering an array of midstream services designed to meet the challenges of moving and processing natural gas, NGLs, condensate, crude oil and produced water in a rapid, cost-effective way. Bundling midstream services is a strategy we will continue to pursue. By placing multiple lines in one ditch we can help alleviate truck traffic and provide our customers with meaningful efficiencies and cost savings.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs