US from Harvest Midstream has signed a purchase and sale agreement (PSA) to buy the remaining interest in Arrowhead ST Holdings (ASTH), a midstream business in the Eagle Ford Basin in Texas, US, from its joint venture partner.
The ASTH system spans the most active areas of Eagle Ford and includes around 515 miles (830 km) of pipeline with a throughput capacity of 380,000 bpd, providing an important link between Eagle Ford Basin producers and the Corpus Christi export market.
Harvest Midstream is already the operation of ASTH with a 25% share in the JV. Buying the remaining share is part of the company’s plans to expands its crude oil transportation and logistics services for upstream and downstream customers.
‘This is another example of our continued commitment to South Texas and the Gulf Coast. When we close this transaction, we will own 100% of these assets that we have safely and reliably operated for over a decade,’ says Jason Rebrook, CEO of Harvest Midstream. ‘This is an exciting opportunity for Harvest to continue to grow and provide first-in-class service. We believe strongly in the outlook for the Eagle Ford as a top producing oil basin.’