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Sanchez Midstream. Targa Resources expand midstream JV in south Texas

May 23, 2018 10:08 AM ETSanchez Energy Corporation (SNEC) StockBy: Carl Surran, SA News Editor12 Comments
  • Sanchez Midstream Partners (SN, SNMP) says it is expanding its 50/50 midstream joint venture with Targa Resources (TRGP) in south Texas.
  • In addition to owning the high pressure Carnero gathering line and Raptor gas processing facility, the Carnero JV acquires TRGP’s 200M cf/day Silver Oak II gas processing plant, which expands the JV's processing capacity to 460M cf/day from 260M cf/day.
  • While SNMP sees the new, expanded JV as "a key step in positioning the partnership for continued growth in south Texas," it does not anticipate a material impact on its FY 2018 forecast released last week.

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