3Bear Energy LLC, a privately held midstream company based in Denver, said it has entered into definitive agreements with an unidentified anchor shipper to develop, own and operate a gathering and processing system serving the northern part of the Permian Basin in New Mexico’s Delaware sub-basin.
The greenfield gathering and processing system would serve Eddy and Lea counties.
"The 3Bear system is ideally positioned in the basin and will provide an excellent platform as we continue to expand our assets to serve producers' growing volumes of crude, gas, and water across the northern Delaware,” said CEO CEO Bob Clark.
The company plans to build more than 100 miles of pipeline for a wellhead gathering system to transport crude oil, natural gas and produced water.
3Bear also plans to build a centrally located water treatment facility, a crude oil terminal and a 60 MMcf/d cryogenic gas processing plant with treating capabilities. The company expects the entire system, which could be expanded, to enter service in early 2018.