Cardinal Midstream
Cardinal Midstream, founded in 2022 and based in Dallas, Texas, specializes in natural gas gathering, processing, and carbon capture and sequestration. The company focuses on acquisition and development opportunities, supported by a $300 million initial commitment from EnCap Flatrock Midstream.
Company Overview
Cardinal Midstream is a midstream energy company based in Dallas, Texas, founded in 2022. The company specializes in the acquisition, development, and management of midstream natural gas facilities, with a particular focus on natural gas gathering and processing, and congruent carbon capture and sequestration. Cardinal Midstream operates a 140 MMcf/d natural gas processing plant and 100 miles of gas gathering pipeline in the Delaware Basin.
Strategic Approach
Cardinal Midstream employs a hybrid strategy that emphasizes both acquisition and development opportunities within the natural gas sector. This approach includes not only natural gas gathering and processing but also carbon capture and sequestration services. This dual focus underscores the company's belief that clean burning natural gas will continue to play a significant role in the energy mix.
Key Acquisitions
Cardinal Midstream has notably closed on the acquisition of Medallion's natural gas business in the Delaware Basin. This acquisition includes a natural gas processing plant with a capacity of 140 MMcf/d and 100 miles of gas gathering pipeline, enhancing the company's operational capabilities in this prolific region.
Financial Backing
Cardinal Midstream is financially supported with an initial capital commitment of $300 million from EnCap Flatrock Midstream, a firm that manages nearly $9 billion in investment commitments. This strong financial backing facilitates the company's aggressive pursuit of midstream acquisition and development opportunities across North America.
Environmental and Compliance Standards
Cardinal Midstream is committed to exceeding environmental, health, and safety compliance standards. The company maintains a robust compliance program to ensure operations adhere to the highest levels of integrity and ethical standards. Furthermore, Cardinal Midstream provides local first responders with access to facilities and has developed comprehensive emergency response plans.