AUSTIN, Texas--(BUSINESS WIRE)--WhiteWater Midstream (WhiteWater), MPLX LP (NYSE: MPLX), and West Texas Gas, Inc. (WTG) are pleased to announce the addition of a fourth partner, Rattler Midstream LP (NYSE: RTLR), to the companies’ BANGL, LLC joint venture. Rattler, in conjunction with its upstream operating parent, Diamondback Energy, Inc. (NYSE: FANG), contributes a significant, long-term natural gas liquids (NGL) product dedication to BANGL, which began full commercial service in the fourth quarter of 2021.
BANGL provides NGL takeaway capacity from MPLX and WTG gas processing plants in the Permian Basin to the NGL fractionation hub in Sweeny, TX. WhiteWater’s investment in BANGL is backed by Ridgemont Equity Partners, Denham Capital Management and the Ontario Power Generation Inc. Pension Plan.
About BANGL, LLC
BANGL is a joint venture between WhiteWater Midstream (WhiteWater), MPLX LP (NYSE: MPLX), West Texas Gas, Inc. (WTG), and Rattler Midstream LP (NYSE: RTLR). The natural gas liquids pipeline system connects the Delaware and Midland basins of Texas to the fractionation market in Sweeny, Texas and has expansion capacity of up to 300,000 barrels per day.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com
WhiteWater is a management owned, Austin based midstream company. WhiteWater is partnered with multiple private equity funds including but not limited to Ridgemont Equity Partners, Denham Capital Management, First Infrastructure Capital and the Ontario Power Generation Inc. Pension Plan. Since inception, WhiteWater has reached final investment decision on ~$3 billion in greenfield development projects. For more information about WhiteWater, visit www.whitewatermidstream.com.
WTG (West Texas Gas, Inc. & affiliates) is composed of a family of related natural gas midstream and downstream entities headquartered in Midland, TX since 1976 with operations in more than 90 Texas and Oklahoma counties. These WTG entities operate more than 900 MMcfd + of gas processing capacity with more than 10,000 miles of gathering systems, 1,800 miles of transmission pipelines and distribution systems serving approximately 25,000 LDC customers.
About Denham Capital Management
Denham Capital is a leading energy and resources-focused global private equity firm with more than $9.7 billion of committed capital across eleven fund vehicles and offices in Houston, Boston, London and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving oil and gas, power generation and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep technical, operational and industry experience and work in close partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.