THE WOODLANDS, Texas, Sept. 12, 2016 /PRNewswire/ -- EVX Midstream Partners, LLC ("EVX") today announced that it has entered into a definitive agreement to build a crude oil gathering system in the Eagle Ford oil window. The gathering system ("EVX South Texas Crude") will be underpinned by a fee-based, 10-year agreement that includes a substantial acreage dedication and existing crude oil production in Frio, La Salle and McMullen Counties, Texas. EVX South Texas Crude facilities will serve many of the same producers as EVX South Texas Water and ultimately create higher netbacks for EVX's customers.
Herb Chambers IV, President and CEO of EVX said, "We are pleased to continue our multi-commodity development plans in the Eagle Ford. Our business model is to serve producers by handling all of their midstream needs. EVX's operational and commercial expertise allows us to develop crude oil, natural gas, and water systems of any scale."
Mr. Chambers continued, "We are currently evaluating multiple expansion opportunities in the area and our crude oil assets will position EVX to provide additional gathering, storage and blending opportunities."
EVX is led by its three founders: Herb Chambers IV, President and CEO; Charlie Flynn, Chief Operating Officer; and Brian Kellar, Chief Financial Officer. The EVX leadership team has a demonstrated track record of success, with over 50 years of collective experience originating transactions and projects, structuring and developing midstream assets, and operating assets post-acquisition or project completion.
About EVX Midstream
EVX Midstream Partners LLC is a midstream development company focused on acquiring, developing and operating crude oil, natural gas, and produced water gathering, processing, treating and transportation assets in the Eagle Ford, Permian Basin, and Mid-Continent. EVX was founded by Herb Chambers IV, Charlie Flynn and Brian Kellar, in partnership with Five Point Capital Partners LLC. For more information, please visit www.evxmidstream.com.
About Five Point Capital Partners LLC
Five Point Capital Partners is a private equity firm focused on midstream energy infrastructure and energy sector investments across North America. Five Point's investment strategy is to partner with, develop and support strong management teams through buyouts and growth capital investments within the midstream energy sector. Based in The Woodlands, Texas, Five Point is currently investing from Five Point Capital Midstream Fund II L.P. and manages more than $450 million of capital commitments. For further information, please visit www.fivepointcp.com.
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SOURCE EVX Midstream Partners, LLC