The acquisition gives Crestwood access to core Bakken shale oil and gas facilities in McKenzie and Dunn counties in western North Dakota, Robert G. Phillips said Thursday.
"After the close of this transaction, we will be one of the largest Bakken midstream service providers servicing approximately 18 percent of current total Bakken crude
oil production," the chief executive officer said in a statement.
"Nationwide, we will be handling over 470,000 bpd of crude oil and natural gas liquids in addition to over 2 billion cubic feet per day of natural gas through our gathering systems and transportation assets," Phillips said.
The Bakken shale reserve area is one of the most productive in the country. Arrow's system there consists of more than 300 miles of oil and natural gas pipelines, which can carry as much as 50,000 barrels of crude oil and 15 million cubic feet of natural gas per day.
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