Oct. 03–Trace Midstream Partners on Wednesday announced that it has received $200 million in equity commitments from Houston private equity firm Quantum Energy Partners and other private investors.
Houston-based Trace is looking to build systems for oil, natural gas and water transport in the Eagle Ford basin in South Texas, as well as other basins in North America.
The company has a long-term contract with a subsidiary of Vitruvian Exploration, a private oil and gas producer based in The Woodlands. The company last year acquired roughly 120,000 acres in Webb, La Salle and McMullen counties in the Eagle Ford.
As part of the agreement, Trace will construct a natural gas gathering system and related facilities to support Vitruvian’s operations there. Construction has started and will be completed in phases based on Vitruvian’s development schedule.
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