Canes Midstream Announces Acquisition of Cogent Midstream
Summary
The Cogent assets, located in the Southern Midland Basin, include 520 million cubic feet per day of processing capacity, over 800 miles of pipelines, 42 compressor stations, a crude oil gathering system, and substantial acreage dedications from a diverse group of Midland Basin-focused producers. Scott Brown, Founder and CEO of Canes, stated, “I was with these assets at inception and am excited to return and continue to grow them. With our newer facilities and the significant capital invested by Cogent to date, we are well positioned to grow the system and provide best-in-class midstream services to our existing and future customers. With fresh capital, Canes will continue to expand the system and support Permian production growth,” said Greg Davis, Partner at EIV. James Obulaney, Managing Director of Denham, said, “Canes, via this acquisition, is well positioned to drive differentiated outcomes for area producers.