Superior Pipeline Company, L.L.C. announced today that it has entered into a long-term, fee-based natural gas gathering and processing agreement with an active producer in the STACK play. The agreement replaces a prior contract with Superior, expanding the producer’s dedication area to approximately 345,000 gross acres. The Cashion system includes two cryogenic processing plants located in Kingfisher County, Oklahoma.
Within the acreage dedicated to Superior, the producer expects to continue development of four production zones in the STACK – the Oswego, Mississippian, Woodford, and Hunton formations in central Oklahoma.
Mike Hicks, Superior’s Chief Operating Officer, said: “We are pleased to further our relationship with such an active and successful producer. This is another step in Superior’s plan to expand our existing assets, while also continuing to acquire synergistic midstream assets.”
Superior is a joint venture owned 50% by Unit Corporation and 50% by SP Investor Holdings, LLC, a holding company jointly owned by OPTrust and funds managed and/or advised by Partners Group, a global private markets investment manager.