This week’s announcement of a newly-formed partnership between Valiant Midstream LLC and Antioch Energy focusing on natural gas gathering operations in eastern Oklahoma resulted in a major step for Valiant Midstream.
“Valiant Midstream is now the third largest midstream company headquartered in the OKC area and this recent deal and project will add significant growth to our business in 2019, ” said Brandon J. Webster, Valiant’s President and Chief Executive Officer.
As OK Energy Today reported on the original announcement, the long-term agreement will increase Valiant’s total acreage commitments in the Arkoma Basin to 2.1 million acres. The partnership adds 275,000 gross acres of Antioch’s dedication in the basin.
It means continued targeted development of the Woodford, Mayes and Caney formations in the Arkoma Stack. As OK Energy Today reported on the latest rig counts, the Woodfords have at least 9 working rigs, the same number as last week.
Antioch Energy operates at least 60 wells in the Arkoma Stack and the firm estimates there are at least 500 or more drilling locations for potential growth.