Canyon Midstream Announces James Lake System Expansion into Winkler County
Permian Basin Sour Gas Gathering and Processing System Adds Pipeline and Compression
Houston, TX – August 2, 2016 – Canyon Midstream Partners, LLC (“Canyon”) today announced the expansion of its James Lake Midstream System into Winkler County, Texas.
“In response to customer demand for sour gas processing capacity in Winkler County, Canyon is excited to begin operations on the latest expansion of our James Lake system. With additional compression at our new field facility in Kermit, Texas, the 22-mile trunkline extension will be capable of delivering up to 60 million cubic feet per day to the James Lake plant for treating and processing,” said Michael Walsh, President and CEO of Canyon. “Despite the current challenges facing the energy industry, the Permian Basin continues to deliver commercial opportunities and Canyon continues to invest in our processing facilities and pipeline footprint to grow our business.”
The James Lake system currently consists of a 110 MMcf/d cryogenic gas processing plant in Ector County, Texas, and eight field compressor stations, 90 miles of high-pressure trunkline and 90 miles of low-pressure gathering lines in Ector, Andrews and Winkler counties, Texas.
About Canyon Midstream Partners, LLC
Canyon is a Houston-based company formed to acquire, develop and operate midstream energy companies and assets. Canyon is backed by $300 million in equity commitments from Kayne Anderson Energy Funds, Canyon management and certain institutional investors. Canyon seeks opportunities to create long-term value for its customers, investors and employees through operational improvements, organic and strategic growth and efficient capital investment. Canyon currently operates gathering and processing assets in the Permian Basin, East Texas and Oklahoma. For more information, visit www.canyonmidstream.com or contact Canyon at info@canyonmidstream.com.
About Kayne Anderson Energy Funds
Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”), founded in 1984, is a leading alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit and growth private equity. Kayne Anderson’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. Kayne Anderson manages approximately $21.5 billion in assets (as of June 30, 2016) for institutional investors, family offices, high net worth and retail clients and employs more than 300 professionals in eight offices across the United States.
Kayne Anderson’s successful energy private equity practice has raised over $7 billion since 1998, including over $5.8 billion through the Kayne Anderson Energy Funds. Currently, the firm has over 30 active portfolio companies focused on upstream and midstream oil and gas assets across North America.
The firm is headquartered in Los Angeles with offices in Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton. For more information, please visit www.kaynecapital.com.