Advantage Midstream LLC has announced the completion of a long-term agreement with SandRidge Energy Inc. (NYSE: SD) on May 9 to deliver gas conversion services for acreage in the North Park basin, located in Jackson County, Colorado.
The agreement provides for the delivery of Advantage Midstream’s conversion system to process natural gas from SandRidge Energy’s North Park assets under a long-term agreement. The system will allow SandRidge to realize value for gas resources in the basin and provide other economic and environmental benefits to SandRidge. As part of the agreement, Advantage will own and operate the system and market all liquid fuels from the plant.
“Advantage Midstream is pleased to utilize our unique set of tools to provide a value and net back-driven service to SandRidge Energy’s assets in the North Park basin of Colorado,” John Stephenson, Advantage Midstream’s CEO, said. “We look forward to developing a strong partnership over the course of the agreement.”