Elevation Midstream and ARB's Platte River Merge to Lead DJ Basin Consolidation
(P&GJ) — Elevation Midstream LLC, an energy midstream gathering and processing company based in Denver, Colorado, has announced a merger with Platte River Holdings, a subsidiary of ARB Midstream, LLC.
The combination positions Elevation for further growth in the Denver-Julesburg Basin with its increased scale and connectivity, three product service offering, broader customer relationships, and strong balance sheet.
Elevation offers three-product gathering, crude stabilization, gas compression and water logistics services, including tankless gathering options for customers who prioritize efficient emissions management. The Platte River assets include more than 200 miles of crude gathering and transmission pipelines and offer multi-market optionality to customers via the Platteville and Lucerne Terminals, including truck offloading.
Producers are able to optimize their barrels through batching, blending and access to premium markets. The combination of Elevation and Platte River creates an ideal platform for organic growth and basin consolidation through targeted M&A via an expansive footprint, world class facilities, and a strong balance sheet.
“We are extremely pleased to announce this combination with Platte River,” said John Roberts, CEO of Elevation Midstream. “ARB has built a highly strategic business with a great track record servicing their producer customers. Our assets are interconnected and complementary, and the combination creates a midstream system of significant scale in the basin. This transaction represents the first step in Elevation’s strategy to serve as a consolidator of DJ Basin gathering and processing assets. It has immediate operational synergies and will unlock additional accretive opportunities for continued growth.”
“We are excited to merge with Elevation Midstream to create a unique midstream platform that will drive long-term growth in the basin,” said Dan Campbell, CEO of ARB Midstream. “Platte River and Elevation share a similar culture and safety-focused operating philosophy, and with contiguous crude, gas and water assets, we are strongly positioned to drive significant midstream consolidation. This announcement validates the dedication and hard work of our employees who built and operate a first-class system that delivers exceptional, safety-first midstream services to our customers.”
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