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Black Diamond Gathering, LLC

Company Summary

Description

Noble Midstream Partners and Greenfield Midstream have formed a JV company, Black Diamond Gathering LLC, to acquire Saddle Butte Rockies Midstream for $625 million. Greenfield is backed by EnCap Flatrock Midstream.

Operational Regions

  • DJ Basin

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Recent news

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Investor Presentations

Company Transactions

Date: 4/25/2020
Type: Acquisition

BUYERS:
  • Black Diamond Gathering, LLC
    • SELLERS:
  • Plains All American Pipeline
  • Magellan Midstream Partners LP
  • Saddlehorn Pipeline Company, LLC
    • ASSETS:
  • Saddlehorn Crude Oil Pipeline
    • DETAILS:
    NOTES:
    Noble Midstream and Greenfield Midstream, via their JV Black Diamond Gathering, has entered into a deal with Saddlehorn Pipeline Company for an option to acquire up to a 20% ownership in the system that expires April 2020. Under the deal, Magellan and Plains would sell down their equity interest on an equal basis while WES retains 20% ownership.
    REGIONS:
  • DJ Basin

    • Date: 2/5/2020
    Type: Acquisition

    BUYERS:
  • Black Diamond Gathering, LLC
    • SELLERS:
  • Magellan Midstream Partners LP
    • ASSETS:
  • Saddlehorn Crude Oil Pipeline
    • DETAILS:

    COST: 155 $MM

    NOTES:
    Noble Midstream & Greenfield Midstream, via the Black Diamond Gathering JV, have exercised their option to purchase a 20% stake in the Saddlehorn Pipeline for $155 million.
    REGIONS:
  • DJ Basin
  • Powder River Basin
  • Cushing Oil Terminal

    • Date: 2/1/2018
    Type: Acquisition

    BUYERS:
  • Black Diamond Gathering, LLC
    • SELLERS:
  • Saddle Butte Rockies Midstream, LLC
    • ASSETS:
  • Black Diamond DJ Basin Crude Oil Gathering System
    • DETAILS:

    COST: 625 $MM

    VOLUMES: 300

    NOTES:
    Noble Midstream will fund 50% of the purchase and own 54.4% of the JV and Greenfield will own 45.6% of the JV. Noble will place its ownership under its subsidiary, Laramie River DevCo.
    REGIONS:
  • DJ Basin