ARM Midstream, a wholly owned subsidiary of Asset Risk Management (ARM), intends to construct a crude oil gathering system in the Bakken shale gas play and underlying Three Forks formation.
ARM also announced that Zavanna LLC, an exploration and production company operating in the Williston Basin of North Dakota and Montana, has executed a letter of intent to be an anchor customer of the system. Zavanna intends to support the project through an acreage dedication in the core of its McKenzie County, ND, operations.
In the coming weeks, ARM intends to commence an open season to gauge market interest in producers making long-term commitments for a new crude oil gathering and transportation pipeline system in the Bakken shale play in North Dakota.
The system will gather crude oil from points in McKenzie County and transport to interconnections with both downstream pipelines and rail takeaway facilities.
ARM is an independent producer services company that provides solutions through financial hedging advisory, physical marketing, and midstream solutions.