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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...