Dallas-based midstreamer LM Energy Holdings LLC through its subsidiary LM Touchdown Crude III LLC is testing support to obtain commitments to expand its crude oil gathering system in the Permian Basin of New Mexico.
The binding open season to expand the system in the Delaware sub-basin was launched on Monday and concludes May 12.
“Despite a challenging market backdrop over the last year, we feel very fortunate to work with customers who have active development plans and capital sponsors who remain supportive,” said CEO Elliot Gerson. “We believe that the current environment creates opportunities for LM, which we are excited to pursue.”
The proposed extension would gather crude oil from origination points in Eddy and Lea counties, and deliver supply to destination points in the same counties.
The Touchdown system, brought into service last June, currently consists of about 50 miles of gathering and transportation pipelines and 30,000 bbl of storage capacity. Continued expansions are underway and planned during 2021.
For information about the open season, contact Ryan Godfrey at (469) 501-2579.
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