Midstream Infrastructure · Senior · Midstream · USA
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Processing facilities · 13 projects
Permian Midland System
District · Gas Processing · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Approximately 7,800 miles of natural gas gathering pipelines and 20 processing plants with aggregate processing capacity of 4,119 MMcf/d in West Texas; seventeen plants and ~5,500 miles of gathering belong to the WestTX joint venture (Targa ~72.8%, ExxonMobil remainder). East Pembrook and East Driver (each 275 MMcf/d) are under construction for 2026.
Processing facilities
As at 31 December 2025
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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Permian Delaware System
District · Gas Processing · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Approximately 7,700 miles of natural gas gathering pipelines and 19 processing plants with aggregate capacity of 3,835 MMcf/d, plus 2.6 Bcf/d of gas treating capacity and seven acid gas injection wells. Falcon II, Copperhead, Yeti, and Yeti II (each 275 MMcf/d) are under construction across 2026-2027.
Processing facilities
As at 31 December 2025
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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Central System
District · Gas Processing · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Approximately 14,800 miles of pipelines and 11 processing plants with aggregate capacity of 1,955 MMcf/d across the Eagle Ford Shale, Fort Worth Basin, southern Oklahoma, north-central Oklahoma, and southern Kansas; includes the Centrahoma joint venture (470 MMcf/d, Targa 60% / MPLX 40%).
Processing facilities
As at 31 December 2025
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Coastal System
District · Gas Processing · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Approximately 1,000 miles of onshore gathering pipelines in Louisiana gathering and processing natural gas from central and western Gulf of America wells, with aggregate processing capacity of 930 MMcf/d and 11 MBbl/d of integrated fractionation at the Gillis plant.
Processing facilities
As at 31 December 2025
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Badlands System
District · Gas Processing · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Bakken and Three Forks operations in the Williston Basin: ~500 miles of crude oil gathering pipelines with terminal storage (Johnsons Corner, Alexander, New Town, Stanley), ~300 miles of gas gathering, the Little Missouri I-III plants (90 MMcf/d), and the 200 MMcf/d Little Missouri 4 plant (Targa 50% / Hess Midstream 50%).
Processing facilities
As at 31 December 2025
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Speedway NGL Pipeline
Asset · Pipeline Ngl · Construction
Project information
As at 31 December 2025
Description
As at 31 December 2025
Approximately 500 miles of 30-inch NGL pipeline to transport NGLs from Permian Basin assets and future plant additions to the Mont Belvieu fractionation and storage complex; expected to begin operations in the third quarter of 2027.
Processing facilities
As at 31 December 2025
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Stakeholder Midstream (Permian Acquisition)
Asset · Gas Processing · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Permian Basin midstream portfolio acquired January 6, 2026 for $1.25 billion in cash (effective January 1, 2026): approximately 480 miles of natural gas pipelines, ~180 MMcf/d of cryogenic processing and sour treating capacity, carbon-capture activities generating 45Q tax credits, and a small crude oil gathering system.
Processing facilities
As at 31 December 2025
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Gulf Coast Fractionators (GCF)
Asset · Fractionation · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
135 MBbl/d fractionation facility reactivated under an agreement with joint-venture partners; commenced operations in the first quarter of 2025.
Processing facilities
As at 31 December 2025
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Galena Park LPG Export Expansion (GPMT)
Asset · Marine Terminal · Construction
Project information
As at 31 December 2025
Description
As at 31 December 2025
Expansion of LPG export capabilities at the Galena Park Marine Terminal, including a new pipeline from Mont Belvieu to Galena Park and additional refrigeration, lifting effective export capacity up to 19 MMBbl per month; expected completion in the third quarter of 2027.
Processing facilities
As at 31 December 2025
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Blackcomb Pipeline (Joint Venture)
Asset · Pipeline Gas · Construction · Ownership 17.5%
Project information
As at 31 December 2025
Description
As at 31 December 2025
Joint-venture natural gas pipeline (Targa 17.5%, WPC 70.0%, MPLX 12.5%) designed to transport up to 2.5 Bcf/d through approximately 365 miles of 42-inch pipeline from the Permian Basin to the Agua Dulce area; expected in service in the fourth quarter of 2026.
Processing facilities
As at 31 December 2025
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Galena Park Marine Terminal
Asset · Marine Terminal · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
LPG export marine terminal near Houston providing fractionation, storage, refrigeration, interconnected terminaling, and ship-loading to support third-party exports; an LPG export expansion to lift effective capacity up to 19 MMBbl per month is expected in the third quarter of 2027.
Processing facilities
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Mont Belvieu Fractionation Complex
Asset · Fractionation · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
NGL fractionation and storage complex at Mont Belvieu, Texas, the major U.S. NGL market hub; successive 150 MBbl/d trains (Trains 11, 12, and 13) are under construction for 2026-2028.
Processing facilities
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NGL Pipeline System (Grand Prix)
Asset · Pipeline Ngl · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Approximately 2,600 miles of company-owned pipelines transporting mixed NGLs and specification products, connecting Gathering and Processing positions in the Permian Basin, Southern Oklahoma, and North Texas to Downstream facilities at Mont Belvieu, Texas.
Processing facilities
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Oil & Gas sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Oil & gas
- 1P/2P/3P — cumulative uncertainty. 1P = Proved (≥90%); 2P = Proved+Probable (≥50%, primary non-SEC metric); 3P adds Possible (≥10%). SEC filers often publish 1P only.
- Contingent (1C/2C/3C) = discovered, sub-commercial. Prospective (1U/2U/3U) = undiscovered. Neither feeds economic models without further work.
- Developed vs Undeveloped: PDP (producing), PDNP (developed non-producing), PUD (undeveloped). Reserves walk PUD→PDP is reclassification, not new discovery.
- BOE uses 6 Mcf gas : 1 bbl oil (thermal, not economic). Some issuers use 5.8:1 — read footnotes.
- Pricing case: Forecast vs Constant (NI 51-101/PRMS) or SEC 12-month average. Do not add cases together.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Oil & Gas — one row per O&G project (typically a field, licence, play or basin asset), with columns for location, status, primary hydrocarbons, production (with rating), reserves & resources (with rating), costs and estimated lifetime.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- Reserves walk — gross (disclosed) — year-by-year reconciliation of the opening balance to the closing balance, broken into Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production and Conversion to developed.
- Reserves walk — net change by year — per-year summary of net additions and net deductions across the portfolio.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Hydrocarbon commodity — notes
- The Commodity column shows normalized labels; values are stored as snake_case CommodityCode strings in pkg/domain and project resource rows (for example shale_gas, oil_equivalent).
- Benchmarks and typical relationship cells are informal market context for reading disclosures — they are not MetalPilot price inputs.
Crude grade primer
- API gravity — lower = heavier. Light crude is ≥ 31.1° API (≤ 870 kg/m³); heavy is 22.3–31.1° API; extra-heavy is < 22.3°. Bitumen is ≤ 10° API.
- Sulphur — sweet vs sour. Sweet crude has ≤ 0.5% sulphur; sour > 0.5%. Refineries price the discount on sour crude into the differential.
- WTI vs Brent vs WCS. WTI (West Texas Intermediate, Cushing OK) is the U.S. light-sweet benchmark; Brent (North Sea) is the global light-sweet benchmark; WCS (Western Canadian Select) is the heavy/sour benchmark for Canadian production.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Oil
Natural gas
NGL
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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