EVX Midstream Partners LLC has entered into a definitive agreement to build a produced water gathering system in the Eagle Ford oil window.
The gathering system and surrounding facilities – known as EVX South Texas – will be underpinned by a fee-based, 15-year agreement that includes a 72,000 acre dedication in La Salle, Frio and Atascosa counties, Texas. Construction of the system will begin in May and is expected to be placed into service in the fourth quarter of 2016.
“EVX South Texas facilities will create significant savings for our customers and are configurable to efficiently handle local producers’ future needs. Additionally, the EVX South Texas assets position EVX to provide crude oil gathering and blending and natural gas gathering, processing, and treating services within the area,” said Herb Chambers IV, president and CEO of EVX.
EVX is currently evaluating multiple expansion opportunities for the water system, as well as potential crude oil and natural gas projects, to provide midstream solutions and cost savings to area producers.
“We are pleased to support EVX in their development efforts in the Eagle Ford. EVX’s system crosses several counties in an attractive area of the Eagle Ford and is well positioned to provide multi-commodity services to area producers. EVX’s Eagle Ford development plans are aligned with our focus on deploying capital through fee-based, long-term business arrangements with credit-worthy and growth-oriented parties,” said Matt Morrow, COO and managing partner of Five Point Capital Partners.
EVX is a midstream development company focused on acquiring, developing and operating crude oil, natural gas, and produced water gathering, processing, treating and transportation assets in the Eagle Ford, Permian Basin, and Mid-Continent.
Founded by Charlie Flynn, COO; Brian Kellar, CFO and Chambers, in partnership with Five Point Capital Partners LLC, the EVX leadership team has a demonstrated record of success, with more than 50 years of collective experience originating transactions and projects, structuring and developing midstream assets, and operating assets post-acquisition or project completion.Tags: Eagle Ford, EVX Midstream Partners, Five Point Capital Partners, Texas