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|Sanchez Midstream Partners Announces Expansion of Midstream Joint Venture with Targa Resources in South Texas|
In addition to owning the Raptor Gas Processing Facility, the Carnero JV has acquired Targa’s 200 million cubic feet per day (“MMcf/d”) Silver Oak II Gas Processing Plant (“Silver Oak II”), located in
“The Carnero JV enhances our midstream strategy, secures and expands our third-party volumes, and is expected to provide additional stable, fee-based cash flow to the Partnership over time. The structure of the transaction greatly simplifies our previous joint ventures with Targa, which facilitates greater operating efficiencies and provides a solid platform for the continuing growth of the Carnero JV in South Texas. The transaction is expected to be immediately accretive to the Partnership, with benefits that increase as the joint venture services the needs of
“Because the Partnership’s joint ventures with Targa previously processed gas from the
ABOUT THE PARTNERSHIP
The forward-looking statements contained in this news release are largely based on our expectations, which reflect estimates and assumptions made by the management of our general partner. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. In addition, management’s assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this news release are not guarantees of future performance, and we cannot assure any reader that such statements will be realized or the forward-looking events and circumstances will occur. The forward-looking statements speak only as of the date made, and other than as required by law, we do not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
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