Ironwood Midstream completes acquisition of oil pipelines in Texas
The assets, which were acquired from Twin Eagle Gardendale Pipeline, include the Gardendale and Asherton gathering systems, which total approximately 150 miles of crude oil gathering pipelines with connections to multiple long-haul pipelines, enabling access to US Gulf Coast, Three Rivers and Houston markets.
“We are excited to close on this high-quality set of gathering assets,” said Ironwood chairman, President and CEO Mike Williams. “The Gardendale system is located in an area we believe in. It looks to have a long life, great geologic characteristics and positive producer economics, even at current commodity price levels. We look forward to working with existing customers and bringing on new customers as we expand the footprint of the Gardendale system.”
The company also announced that former Twin Eagle executive vice-president and COO Danny J. Rea has joined Ironwood as its chief commercial officer and board member. Rea has handled commercial and operational management for Twin Eagle’s midstream assets since 2015, which include crude gathering, crude and sand trans-load terminals, and crude transportation in a number of major US producing basins.
“Danny Rea has established a standout career managing significant midstream assets across the domestic US sector,” said Ironwood chairman, president and CEO Mike Williams. “Danny’s long experience managing Anadarko’s midstream operations, his hands-on knowledge of this asset and his keen, lifelong dedication to achieving the needs of producers are tremendous advantages for Ironwood. We are extremely fortunate to be able to add Danny as an integral part of our company as we continue to grow our footprint in South Texas and beyond.”