Third Coast Midstream Announces Sale of Final Non-Gulf Coast Related Assets
Third Coast Midstream announced that on Tuesday, one of its subsidiaries completed the sale of Third Coast Midstream's final non-core asset, and the company has fully reached the goal of becoming a Gulf of Mexico and Gulf Coast-focused midstream company.
"Third Coast Midstream is pleased to announce the sale of its final onshore asset outside its core Gulf of Mexico and U.S Gulf Coast platform,” said Matt Rowland, President and Chief Executive Officer of Third Coast Midstream. "I am proud of all that our team has achieved over the past 20 months, divesting 22 non-core assets and pivoting to become a pure-play Gulf of Mexico and Gulf Coast fee-based midstream infrastructure business."
Third Coast Midstream currently owns or has an ownership interest in approximately 1,200 miles of interstate and intrastate pipelines, as well as ownership in a gas processing plant, and an offshore semi-submersible floating production system with processing capacity of up to 100 MBbl/d of crude oil and 240 MMcf/d of natural gas.
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