Bear Tracker Energy announced the signing of a definitive agreement with SM Energy Company. BTE will construct, own, and operate a crude oil gathering system in Divide and Williams Counties, North Dakota. Under terms of the agreement, crude oil from SM Energy's operated wells in Divide County will be dedicated to BTE's gathering facilities. BTE will gather and deliver SM Energy’s crude oil to Rangeland Energy's existing COLT Hub Terminal near Epping, ND, providing SM Energy with access to multiple downstream crude oil markets via pipeline and unit train take-away capacity. Construction of the gathering system will commence in the first quarter of 2013 with an estimated in-service date of July 1, 2013.
- Nature & Environment
- crude oil