DENVER, October 25, 2012 (BUSINESS WIRE) -- Bear Tracker Energy, LLC (BTE), a midstream energy company, announced today the signing of a definitive agreement with SM Energy Company (NYSE:SM), an independent oil and gas exploration and production company. BTE will construct, own, and operate a crude oil gathering system in Divide and Williams Counties, North Dakota. Under terms of the agreement, crude oil from SM Energy's operated wells in Divide County will be dedicated to BTE's gathering facilities. BTE will gather and deliver SM Energy’s crude oil to Rangeland Energy's existing COLT Hub Terminal near Epping, ND, providing SM Energy with access to multiple downstream crude oil markets via pipeline and unit train take-away capacity. Construction of the gathering system will commence in the first quarter of 2013 with an estimated in-service date of July 1, 2013.
“Bear Tracker’s Divide gathering system will provide a valuable and reliable outlet for SM Energy’s growing crude oil production in Divide County while also reducing truck traffic in the area. This system also complements Bear Tracker’s Williams County crude gathering system currently under construction and will provide rail and pipeline market alternatives for a growing Williston Basin oil producing corridor extending from the Missouri River to the Canadian border,” said Robert J. Clark, Chairman and Chief Executive Officer of Bear Tracker Energy, LLC.
About Bear Tracker Energy
Bear Tracker Energy, LLC, headquartered in Denver, CO, is a full service midstream energy company with a primary geographical focus in the Rocky Mountain region. The company's services include natural gas gathering, processing, compression, treating, fractionation, crude oil gathering and NGL & natural gas marketing services. Bear Tracker Energy is a private company owned by funds managed by GSO Capital Partners LP. For more information, please visit www.beartrackerenergy.com
or contact Kevin Collins, EVP & CFO at 303.626.8260.