Woodland Midstream News

Woodland Midstream II Acquires Fully Integrated Permian Basin Sour Gas Gathering & Processing System

Houston, TX, Oct. 08, 2019 (GLOBE NEWSWIRE) Woodland Midstream II, LLC (“Woodland”) announced the acquisition of the James Lake System (“James Lake”) from a privately-owned seller for an undisclosed amount. James Lake represents a fully integrated sour gas gathering, treating and processing system with approximately 230 miles of pipeline, 110 MMcf/d of processing capacity and 35,000 HP of owned compression that serves producers in the Permian’s Central Basin Platform (Ector, Andrews and Winkler Counties, TX).

“James Lake has been a primary target of ours given its strategic location in the Permian Basin. This transaction represents Woodland’s first operating asset,” said Richard H. Wright, III, Chief Executive Officer. “We are thankful for the opportunity to work alongside our equity partners EIV Capital for a second time as we build a company focused around our customers, shareholders and employees.”

Woodland plans to invest additional capital into James Lake to accomplish multiple plant optimization and emissions reduction focused projects. Woodland also plans to enhance and expand James Lake’s condensate and liquids handling business.

“The acquisition of the James Lake System is an important step in realizing our vision to build a Permian-focused midstream company that brings customer service back to the focal point,” said Darin Aucoin, Chief Commercial Officer.

While James Lake represents this iteration of Woodland’s first operating asset, it is not the team’s first venture. Woodland’s executive team has over 75 years of energy experience, including the Permian.

“I look forward to working in the Permian where I began my career at a sour gas facility and developed long term relationships in the midstream business” said Doug Coleman, Chief Operating Officer.

EIV Capital Announces the Formation of Woodland Midstream II, LLC

Houston, TX, (February 12, 2019) — EIV Capital and Woodland Midstream are pleased to announce they are partnering together again to form Woodland Midstream II. The partnership includes a substantial capital commitment from EIV Capital following the success of Woodland Midstream I and key additions to the executive team.

Woodland Midstream I, led by Richard Wright, established a significant natural gas gathering and processing footprint through the acquisition and development of greenfield projects in the Ark-La-Tex region. Woodland Midstream I successfully monetized its natural gas gathering and processing assets in October 2018.

Partnering with Richard Wright in Woodland Midstream II are Chief Commercial Officer Darin Aucoin, previously Vice President of Commercial Activities for Caprock Midstream, and Chief Operating Officer Doug Coleman, previously Vice President of New Ventures for Prism Midstream.

Woodland Midstream II is committed to providing strategic, tailored midstream solutions to best meet producers’ needs. The company will be engaged in acquiring and developing natural gas, natural gas liquids, oil and water midstream infrastructure in emerging basins throughout North America.

Patti Melcher, EIV Capital Co-Founder & Managing Partner, commented: “EIV would like to congratulate Richard on the success of Woodland I and is pleased to continue our partnership through Woodland II. We believe that the team’s proven midstream experience and passion about the industry will enable them to partner with producers to create safe, reliable and effective projects.”

Richard Wright remarked: “Through Woodland I, we were able to have a creative approach to providing producers with a safe, custom solution to their midstream needs. I am particularly pleased with our ability to develop win-win scenarios while providing engineered solutions coupled with superior service. Further, it’s an honor to partner up with two industry leaders such as Darin and Doug, and I am grateful to continue and further build our strong partnership with EIV with the formation of Woodland II.”