New Focus Area In The Haynesville Shale
(Houston, TX) Trace Midstream and Gemini Midstream each a portfolio company of Quantum Energy Partners (“Quantum”), announced the combination of management teams to focus on the continued growth and expansion of the Gemini Carthage Pipeline (“GCP”), an existing 50-mile natural gas system in Harrison and Panola Counties, Texas, capable of delivering in excess of 1.2 billion cubic feet per day (bcf/d) of high pressure, dry natural gas into the Carthage area.The combination of Trace and Gemini’s highly skilled workforces and senior management teams provides customers with a dedicated team of energy professionals. Going forward, the combined team will operate as Trace Midstream and Josh Weber will assume the role of Chief Executive Officer with John O’Shea as Chairman of the Board.“Since its initial in-service date of May 2019, GCP has seen a significant ramp in volumes from its two anchor producers, Rockcliff Energy and Tanos Exploration,” said Josh Weber, Trace Chief Executive Officer. “GCP offers its customers access to premium and growing liquified natural gas export and industrial markets along the Texas and Louisiana Gulf Coast. We look forward to continuing to offer safe, reliable and competitive midstream services that our producer customers have come to expect from the Trace team.”Additionally, Trace has begun construction of the Gemini Gulf Coast Pipeline (“GGCP”), a new 36-inch, 150-mile natural gas pipeline capable of delivering 1.5 bcf/d of natural gas to downstream markets in the Beaumont area. Phase I of GGCP is expected to be operational in May 2020.Trace will remain headquartered in Houston, Texas and will continue to operate its East Texas assets from its field office in Marshall, Texas.