Matador Resources Co. has agreed to purchase Summit Midstream Partners LP’s Lane natural gas gathering and processing (G&P) system in New Mexico’s Eddy and Lea counties for $75 million.

lane system map

In connection with the deal, Matador “will assume certain takeaway capacity on the Double E pipeline, a FERC-regulated natural gas pipeline operated by Summit,” the Dallas-based independent said. The transaction is expected to close by the end of the month.

The Lane system, which serves the Permian Basin’s Delaware sub-basin, includes a 60 MMcf/d cryogenic natural gas processing plant, three compressor stations and about 45 miles of natural gas gathering pipelines.

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