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Released January 09, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Riverstone Holdings LLC (Houston, Texas), along with investment funds managed by The Goldman Sachs Group Incorporated (NYSE:GS) (New York City, New York), has purchased Lucid Energy Group's (Dallas, Texas) natural gas-focused subsidiary in the Delaware Basin for about $1.6 billion. The deal is expected to close in first-quarter 2018. Industrial Info is tracking $4.7 billion in active projects involving Riverstone and $505 million worth involving Lucid.
The subsidiary, called Lucid Energy Group II LLC, is located in northern region of the Delaware Basin, covering Eddy and Lea counties in southeast New Mexico. According to Lucid, it includes 1,700 miles of natural gas-gathering pipelines and 585 million standard cubic feet per day of processing capacity. It also includes the $150 million Roadrunner Cryogenic Natural Gas Processing Plant in Loving, New Mexico, which is under construction and is expected to process an additional 200 million standard cubic feet per day. For more information, see Industrial Info's project report.
Lucid also had been weighing a proposed, $150 million expansion of the Roadrunner plant, which would double its capacity. The project remains in its earliest development phases, where plenty of factors could increase, decrease or totally eliminate the expected spending. For more information, see Industrial Info's project report.
In the spring of last year, Lucid completed a $250 million second-phase expansion of the Red Hills Cryogenic Natural Gas Processing Plant in nearby Jal, New Mexico, which added a 200 million-standard-cubic-foot-per-day train and 25,000 barrels per day (BBL/d) of capacity for natural gas liquids (NGL), bringing total capacity at the facility to 330 million standard cubic feet per day of natural gas and 50,000 BBL/d of NGLs. Lucid also was considering a $200 million Phase III expansion, which would include another 200 million-standard-cubic-foot-per-day train. For more information, see Industrial Info's reports on the completed Phase II and proposed Phase III projects at Red Hills.
Lucid Energy Group II will retain its name and operate as a portfolio company for Riverstone and Goldman Sachs' Merchant Banking Division.
While Riverstone has been upping its investments in natural gas-fired generation, it also manages the largest private equity fund dedicated exclusively to private renewable energy investment, according to the company's web site. That includes one of the highest-valued wind-power projects under construction in Canada: the $200 million North Kent Windfarm in Chatham, Ontario, which is expected to generate 100 megawatts (MW) from 34 Siemens generators. For more information, see Industrial Info's project report.
Riverstone also is considering several proposed windfarms across the U.S., including the estimated $400 million Grady Wind Energy Center in Clovis, New Mexico, which is designed to generate about 220 MW from 96 Siemens generators. Pattern Energy Group (NASDAQ:PEGI) (San Francisco, California) is managing the project, as well as Riverstone's proposed $210 million Willow Creek Wind Energy Facility near Newell, South Dakota, which would use 45 Siemens generators to generate 103 MW. For more information, see Industrial Info's project reports on the Grady and Willow Creek proposals.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
The subsidiary, called Lucid Energy Group II LLC, is located in northern region of the Delaware Basin, covering Eddy and Lea counties in southeast New Mexico. According to Lucid, it includes 1,700 miles of natural gas-gathering pipelines and 585 million standard cubic feet per day of processing capacity. It also includes the $150 million Roadrunner Cryogenic Natural Gas Processing Plant in Loving, New Mexico, which is under construction and is expected to process an additional 200 million standard cubic feet per day. For more information, see Industrial Info's project report.
Lucid also had been weighing a proposed, $150 million expansion of the Roadrunner plant, which would double its capacity. The project remains in its earliest development phases, where plenty of factors could increase, decrease or totally eliminate the expected spending. For more information, see Industrial Info's project report.
In the spring of last year, Lucid completed a $250 million second-phase expansion of the Red Hills Cryogenic Natural Gas Processing Plant in nearby Jal, New Mexico, which added a 200 million-standard-cubic-foot-per-day train and 25,000 barrels per day (BBL/d) of capacity for natural gas liquids (NGL), bringing total capacity at the facility to 330 million standard cubic feet per day of natural gas and 50,000 BBL/d of NGLs. Lucid also was considering a $200 million Phase III expansion, which would include another 200 million-standard-cubic-foot-per-day train. For more information, see Industrial Info's reports on the completed Phase II and proposed Phase III projects at Red Hills.
Lucid Energy Group II will retain its name and operate as a portfolio company for Riverstone and Goldman Sachs' Merchant Banking Division.
While Riverstone has been upping its investments in natural gas-fired generation, it also manages the largest private equity fund dedicated exclusively to private renewable energy investment, according to the company's web site. That includes one of the highest-valued wind-power projects under construction in Canada: the $200 million North Kent Windfarm in Chatham, Ontario, which is expected to generate 100 megawatts (MW) from 34 Siemens generators. For more information, see Industrial Info's project report.
Riverstone also is considering several proposed windfarms across the U.S., including the estimated $400 million Grady Wind Energy Center in Clovis, New Mexico, which is designed to generate about 220 MW from 96 Siemens generators. Pattern Energy Group (NASDAQ:PEGI) (San Francisco, California) is managing the project, as well as Riverstone's proposed $210 million Willow Creek Wind Energy Facility near Newell, South Dakota, which would use 45 Siemens generators to generate 103 MW. For more information, see Industrial Info's project reports on the Grady and Willow Creek proposals.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
