Capital Markets | Project Startup | Midstream - Gas Gathering | Midstream - Oil Gathering | Capital Expenditure | Capital Expenditure - 2020
Elevation Midstream IDs 2020 Budget; Puts Badger Gathering Facility Online
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Extraction Oil & Gas, Inc. subsidiary, Elevation Midstream LLC, has begun moving crude oil, natural gas and water through its Badger central gathering facility (CGF).
Extraction also provided 2020 capital budget guidance for Elevation.
Extraction President and Acting CEO Matt Owens said: "We are pleased to announce this milestone achievement for Elevation as we now have crude oil, natural gas and water volumes flowing from the first wells on our Interchange pad in Broomfield in addition to wells from the nearby Coyote Trails pad to the Badger CGF via our pipeline gathering system. We expect Elevation's volumes to grow considerably over the years as Extraction continues to focus much of its development activities in Broomfield and the surrounding areas served by Elevation."
Elevation 2020 Capital Budget Guidance
Elevation's planned 2020 capital budget is expected to be $30 - $40 million, including its investment in unconsolidated affiliates, that will be used to expand the pipeline gathering system to reach additional pads and associated volumes into Badger.
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