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Kingfisher Midstream, LLC

Company Summary

Description

Kingfisher provides midstream energy services, including crude oil and gas gathering, processing and marketing to producers in Oklahoma’s STACK play. ARM Energy formed Kingfisher in September 2015 in partnership with HPS Investment Partners. Since Kingfisher’s formation, ARM Midstream, on behalf of Kingfisher, successfully contracted acreage dedications of approximately 300,000 gross acres in the STACK play in Oklahoma. Kingfisher has natural gas processing capacity of 350mmcf/d and more than 400 miles of natural gas and crude oil pipelines. Kingfisher’s strategic firm transportation also provides residue solutions and flow assurance to its producer customers. Bought by Silver Run in early-2018 for $1.55 billion.

Operational Regions

  • Oklahoma STACK Play

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Company Transactions

Date: 10/1/2018
Type: Acquisition

BUYERS:
  • Kingfisher Midstream, LLC
    • SELLERS:
  • Alta Mesa Resources, Inc
    • ASSETS:
  • Kingfisher Produced Water Gathering and Disposal System
    • DETAILS:

    COST: 90 $MM

    VOLUMES: 75 M Bbls/d

    NOTES:
    Alta Mesa completed their transfer of produced water business from Alta Mesa Upstream to Kingfisher Midstream for a value of $90 million, closing on November 9, 2018, with an effective date of October 1, 2018. Produced water volumes for 3Q18 averaged 75 Mbbls/d on the system consisting of 200 miles of permanently installed gathering pipeline and 20 produced disposal wells. Alta Mesa also entered into a 15-year produced water and gathering disposal agreement with Kingfisher Midstream.

    Date: 2/12/2018
    Type: Merger

    BUYERS:
  • Alta Mesa Resources, Inc
    • SELLERS:
  • Alta Mesa Holdings
  • Kingfisher Midstream, LLC
    • DETAILS:

    ACRES: 120000 Acres

    NOTES:
    Silver Run Acquisition Corp and Alta Mesa Holdings have entered into agreements to combine with Kingfisher Midstream. Upon closing, Silver Run will be renamed Alta Mesa Resources and will trade on the NASDAQ under the ticker "AMR". The combined companies will have a market capitalization of $3.8 billion.
    REGIONS:
  • Oklahoma STACK Play

    • Date: 2/12/2018
    Type: Acquisition

    BUYERS:
  • Alta Mesa Resources, Inc
    • SELLERS:
  • Kingfisher Midstream, LLC
  • ARM Energy Holdings LLC
    • DETAILS:

    COST: 1.55 $B

    NOTES:
    Silver Run paid $800 million in cash, $550 million in stock and up to $200 million in stock based on future trading performance.
    REGIONS:
  • Oklahoma STACK Play