The newest energy company created by Houston private equity firm Energy Capital Partners is launching its first big project in the New Mexico portion of the Permian Basin.
Houston-based Sendero Midstream Partners said Wednesday it has the necessary contract commitments and funding to start building a natural gas pipeline gathering and processing system near Carlsbad, New Mexico. The project is supposed to be operational during the third quarter of the year to serve an area lacking much pipeline and processing infrastructure.
“The northern Delaware Basin (of the Permian) is one of the most prolific and active drilling areas in North America, and we are excited to begin construction of this system,” said Sendero President and Chief Executive Clay Bretches in the announcement.
The company did not make any financial information available about the project.
Sendero is privately owned by Energy Capital Partners, which maintains offices in Houston, New Jersey and San Diego.