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3Bear Delaware Holding – NM, LLC

Company Summary

Description

3Bear is a premier crude, gas and water gathering, processing and disposal business in the Northern Delaware Basin. 3Bear's assets are anchored by ~350,000 dedicated acres and long-term fixed fee contracts. The asset base includes approximately 485 miles of pipelines, 88 million cubic feet per day of cryogenic natural gas processing capacity, 120 MBbl of crude storage capacity and 200 MBbl/d of water disposal capacity.

Operational Regions

  • Permian Basin
  • Delaware Basin

Related Entities

Recent news

  • 4/11/2022 - Delek Logistics... (subscriber access)

Company Transactions

Date: 6/30/2022
Type: Acquisition

BUYERS:
  • Delek Logistics Partners, LP
  • DLK Black River Midstream LLC
    • SELLERS:
  • 3Bear Delaware Holding – NM, LLC
  • 3Bear Energy, LLC
    • DETAILS:

    COST: 624.7 $MM

    NOTES:
    Delek Logistics Partners has signed an agreement to acquire a 100% stake in 3Bear Delaware Holding – NM from 3Bear Energy for $624.7 million in cash. The deal includes 3Bear's crude oil and gas gathering, processing and transport business in the Delaware Basin of New Mexico, along with the water disposal and recycling operations. Delek will operate the assets through a new subsidiary - DKL Delaware Gathering, LLC. The asset base includes "485 miles of pipelines, 88 million cubic feet per day of cryogenic natural gas processing capacity, 120 MBbl of crude storage capacity and 200 MBbl/d of water disposal capacity."
    REGIONS:
  • Delaware Basin