The assets are primarily located in Henderson, Van Zandt, Rains, Wood, Hopkins, and Franklin counties.
The Eustace Gas Plant comprises of an 1800 GPM Sulfinol treating unit with a rated capacity of 70mmcfd, an 800 long ton per day sulfur recovery unit, a Scot tail gas treating unit, a 35mmcfd nitrogen rejection unit, a cryogenic natural gas liquids recovery plant, an 1800 barrel per day condensate stabilization unit, and a sulfur railcar loading terminal.
The Myrtle Springs Plant is a 3000 barrel per day condensate treating and stabilization facility, which includes a Merichem treating unit capable of removing hydrogen sulfide and mercaptans. With truck loading and unloading capabilities, the Myrtle Springs facility is able to receive condensate by pipeline or truck.
Ken Purgason, president and CEO of Tristream Energy, said: “The acquisition of the Eustace facilities will expand our midstream gas gathering business in Texas. We look forward to the aggressive addition of new reserves to the system and continuing our acquisition and grass roots development opportunities in the midstream gas sector.”
Equity financing was provided by Tristream’s management and private equity funds sponsored by Houston based private equity firm Haddington Ventures.
