Through this transaction, Teak Midstream has come to acquire over 325 miles of Texana’s intrastate gathering pipeline assets located throughout 17 South and East Texas counties. Considerable portions of the acquired assets are located in and around the Eagle Ford Shale formation.
As per the terms of the transaction, Teak will have seven Texana employees join its team, including Gayle Muench, who will serve as vice president of corporate development and will primarily work on the execution of Teak’s Eagle Ford Shale growth strategy.
Jim Wales, Co-CEO of Teak, said: “Texana’s gathering assets provide a strategic footprint for Teak’s planned growth in the Eagle Ford Shale. Our solid financial position and industry relationships allow us to leverage Texana’s existing operations to accelerate growth and expand the services we offer customers in South and East Texas. This acquisition is just one of many growth steps for Teak.”
