Rangeland Energy of Sugar Land, TX, has formed a subsidiary to pursue midstream opportunities in Western Canada. Rangeland Midstream Canada Ltd. is led by Briton Speer, who joined Rangeland Canada in August as vice president, business development. Headquartered in Calgary, Rangeland Canada's expertise includes gathering, compression, treating, processing and storage services for natural gas, crude oil and natural gas liquids. Rangeland Energy was formed in 2009 to develop, acquire, own and operate midstream infrastructure. The company is focused on emerging shale plays across North America with an emphasis on the Permian Basin’s Delaware sub-basin in West Texas, the U.S. Gulf Coast and Canada. Speer most recently was vice president of business development for DK Canada Energy ULC, a subsidiary of Delek US Holdings Inc. Prior to DK Canada, he worked for eight years at Pembina Midstream LP. Separately, Rangeland Energy said its RIO Pipeline has entered commercial service to transport crude oil and condensate from the Delaware (see Shale Daily, April 12). The 110-mile, 12-inch diameter pipeline originates at the RIO State Line Terminal in Loving County, TX, a gathering hub at the Texas-New Mexico border in the heart of the Delaware with tankage and truck unloading facilities. The pipeline has the capacity to transport more than 125,000 b/d to Rangeland’s Geneva and Zurich terminals in Midland, TX.
Noble Midstream Partners LP, formed by Noble Energy Inc. to own and operate U.S. oil and gas infrastructure, has launched another bid to go public after pulling the offer in late 2015. The initial public offering (IPO) to sell 12.5 million units at $19-21/apiece would help expand services beyond its Noble Energy-focused Denver-Julesburg Basin business. The master limited partnership postponed an offering in November 2015, citing "unfavorable equity market conditions" (see Shale Daily, Nov. 23, 2015). The common units offered represent 39.3% of the limited partner interest, or 45.2% if the underwriters exercise in full an option to purchase up to 1.875 million additional units at the same price. Noble Energy and subsidiaries would own the remaining stakes. According to a Form S-1 filing with the U.S. Securities and Exchange Commission, Noble Midstream plans to trade on the New York Stock Exchange under "NBLX."