DALLAS, May 9, 2018 — Advantage Midstream, LLC, a Dallas-based, independent midstream and gas-to-liquids focused company, today announced the completion of a long-term agreement with Oklahoma City-based SandRidge Energy, Inc.(NYSE: SD) to deliver gas conversion services for acreage in the North Park basin, located in Jackson County, Colorado.
The agreement provides for the delivery of Advantage Midstream’s conversion system to process natural gas from SandRidge Energy’s North Park assets under a long-term agreement. The system will allow SandRidge to realize value for gas resources in the basin and provide other economic and environmental benefits to SandRidge. As part of the agreement, Advantage will own and operate the system and market all liquid fuels from the plant.
“Advantage Midstream is pleased to utilize our unique set of tools to provide a value and net back-driven service to SandRidge Energy’s assets in the North Park basin of Colorado,” said John Stephenson, Chief Executive Officer of Advantage Midstream. “We look forward to developing a strong partnership over the course of the agreement.”
Advantage Midstream is currently focused on opportunities in the Permian, Appalachia, Rockies, Bakken, Mid-Continent and other areas that have stranded or constrained natural gas production. The company offers a variety of services, including natural gas conversion, natural gas gathering, processing, treating and compression, and other oil and gas midstream services.
About Advantage Midstream
Advantage Midstream, based in Dallas, Texas, is a midstream and marketing company focused on applying advanced gas-to-liquid conversion technology to produce premium liquid fuels from natural gas resources across North America. Advantage offers producers and processors tailored solutions for natural gas and natural gas liquids in areas that are geographically constrained or lacking proper infrastructure. For more information, visit www.advantagemidstream.com.
About SandRidge Energy
SandRidge Energy, Inc. (NYSE: SD) is an oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma with its principal focus on developing high-return, growth oriented projects in Oklahoma and Colorado. The majority of the Company’s production is generated from the Mississippi Lime formation in Oklahoma and Kansas. Development activity is currently focused on the Meramec formation in the NW STACK Play in Oklahoma and multiple oil rich Niobrara benches in the North Park Basin in Colorado.