Ryckman Creek secures $110M financing to complete gas storage project

Peregrine Midstream Partners LLC

Ryckman Creek Resources LLC, a majority-owned subsidiary of Peregrine Midstream Partners LLC, has secured financing to complete its high-deliverability, multi-cycle (HDMC) Ryckman Creek gas storage facility in southwestern Wyoming near the Opal Hub. The financing facility was provided by Peregrine's private equity owner, EQT Infrastructure, and a consortium of banks led by ING Capital LLC.

Ryckman Creek experienced a shutdown and force majeure event in April 2013 due to a malfunction of a nitrogen rejection unit (NRU) facility that caused a fire and the loss of some of the NRU components. Ryckman has been working on reconstructing the NRU and building additional gas handling facilities. Commercial service is expected to begin in summer 2015.

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