Woodland Midstream II Acquires James Lake System
08 October 2019
Woodland Midstream II has acquired James Lake System from a privately-owned seller for an undisclosed amount. James Lake represents a fully integrated sour gas gathering, treating and processing system with 230 miles (370 km) of pipeline, 110 MMcfd (3.1 X 106 m3/d) of processing capacity and 35,000 hp (26,099 kW) of owned compression that serves producers in the Permian’s Central Basin Platform (Ector, Andrews and Winkler counties, Texas).
Woodland plans to invest additional capital into James Lake to accomplish multiple plant optimization and emissions reduction focused projects, the company said. Woodland also plans to enhance and expand James Lake’s condensate and liquids handling business.
“James Lake has been a primary target of ours given its strategic location in the Permian Basin,” said Richard H. Wright, III, chief executive officer, Woodland Midstream II. “This transaction represents Woodland’s first operating asset.”