DALLAS, Sept. 13, 2017 /PRNewswire/ -- Goodnight
Midstream, the professional fluids management company, announces a
multi-year partnership to provide pipeline disposal service for
Callon Petroleum Company (NYSE: CPE) in the southern Delaware Basin.
Goodnight will build, own and operate a produced water pipeline
connecting Callon's Spur acreage
in Ward County, Texas to saltwater
disposal wells in the Central Basin Platform. The new system will
reliably move produced water volumes out of the Delaware Basin, providing Callon assurance of
sufficient disposal capacity at a low cost per barrel.
"We are pleased to continue our expansion in the Permian with
this unique partnership with Callon, a leading operator in the
basin," said Patrick Walker, Chief
Executive Officer of Goodnight Midstream. "By piping produced water
out of the Delaware Basin at large
scale, we are leading the way in providing a long-term, sustainable
outlet for the growing volumes of produced water generated by our
producers. The shallow, porous and depleted formations of the
Central Basin Platform provide the ideal disposal reservoirs for
the millions of barrels of saltwater the Delaware Basin will produce in the decades to
come."
Joe Gatto, President and Chief
Executive Officer of Callon Petroleum, commented, "We are very
pleased to be working with Goodnight Midstream to take this next
step forward in our Delaware asset
development. This partnership helps to position Callon as a
leader in operational logistics in the basin. Our pipeline disposal
solution has positive net present value implications for our
Spur development and provides
substantial capital reduction for Callon beginning in the second
half of 2018."
About Goodnight Midstream
Goodnight Midstream provides trusted professional fluids
management services to its oil and gas producing customers. The
Company owns and operates an extensive network of water gathering
pipelines and saltwater disposal wells focused on gathering and
disposing of produced saltwater for oil and gas producers.
Goodnight's midstream approach minimizes environmental impact and
improves health and safety while lowering lease operating expense
and improving reliability for its customers. Goodnight is supported
by a team of highly experienced engineers and operating
professionals. In addition to Goodnight's leading position in
North Dakota, Goodnight is rapidly
expanding in the Permian Basin of Texas and New
Mexico. For more information, please visit
www.goodnightmidstream.com.
Contact:
Julie Walter
jwalter@goodnightmidstream.com
Goodnight Midstream, LLC
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SOURCE Goodnight Midstream