Houston based Harvest Midstream have announced the signing of a Purchase and Sale Agreement (PSA) to acquire the remaining interest in Arrowhead ST Holdings, LLC (ASTH) from its joint venture partner.
Harvest is already the operator of ASTH and a 25 percent owner of the joint venture. ASTH, a fully integrated Eagle Ford midstream business, spans the most active areas of the Eagle Ford. The system delivers to numerous crude export docks and into Flint Hills Corpus Christi and Valero Three Rivers refineries. This is part of Harvest’s ongoing efforts to expand its suite of crude oil transportation and logistics services for upstream and downstream customers.
“This is another example of our continued commitment to South Texas and the Gulf Coast. When we close this transaction, we will own 100 percent of these assets that we have safely and reliably operated for over a decade,” said Jason Rebrook, CEO of Harvest Midstream. “This is an exciting opportunity for Harvest to continue to grow and provide first-in-class service. We believe strongly in the outlook for the Eagle Ford as a top producing oil basin.”
The ASTH system includes about 515 miles of pipeline with a total throughput capacity of 380 m bpd. The system is a key link between the Eagle Ford Basin producers and Corpus Christi, the leading crude export market in the United States.
Pending regulatory approval, the sale is expected to close in the first quarter of 2022.
For more information visit www.harvestmidstream.com