2013-01-03 00:24:48 -
DENVER, CO -January 2, 2013- American Midstream Partners, LP (NYSE: AMID)
announced today the execution of a long-term agreement with Silver Oak Energy to
provide midstream services throughout Silver Oak's acreage holdings in the
Woodbine Formation in Madison County, Texas. American Midstream previously
announced a binding letter of intent with Silver Oak, under which the
Partnership constructed natural gas gathering and treating facilities to enable
Silver Oak to market production from their initial drilling program. Under the
terms of the agreement announced today, American Midstream will construct and
operate additional gathering, compression, treating, and processing facilities
to support Silver Oak's production in the Woodbine.
"We are excited to announce a long-term agreement with Silver Oak to develop
midstream infrastructure throughout the Woodbine play in East Texas," commented
Brian Bierbach, President and Chief
Executive Officer. "There are extensive
potential crude oil reserves in the Woodbine and surrounding plays that we
believe will drive significant rich-gas production. We look forward to working
with Silver Oak, and potentially other producers in the region, to provide a
full suite of midstream services that are critical to the full development of
the liquids-rich areas of the Woodbine."
About American Midstream Partners
Denver-based American Midstream Partners, LP is a growth-oriented limited
partnership formed to own, operate, develop and acquire a diversified portfolio
of natural gas midstream energy assets. The company provides midstream services
in the Gulf Coast and Southeast regions of the United States. For more
information about American Midstream Partners, LP visit
www.AmericanMidstream.com.
About Silver Oak Energy
Silver Oak Energy, in partnership with EnCap Energy Capital Fund VIII, is a Fort
Worth, Texas based newly created exploration and production company formed to
generate oil and gas prospects, acquire leases and develop producing properties
in multiple onshore U.S. basins. For more information visit
www.silveroakpartners.com.
Forward Looking Statements
This press release includes forward-looking statements. These statements relate
to, among other things, projections of operational volumetrics and improvements,
growth projects, cash flows and capital expenditures. We have used the words
"anticipate," "believe," "could," "estimate,"
"expect," "intend," "may," "plan,"
"predict," "project," "should," "will,"
"potential," and similar terms and
phrases to identify forward-looking statements in this press release. Although
we believe the assumptions upon which these forward-looking statements are based
are reasonable, any of these assumptions could prove to be inaccurate and the
forward-looking statements based on these assumptions could be incorrect. Our
operations involve risks and uncertainties, many of which are outside our
control, and any one of which, or a combination of which, could materially
affect our results of operations and whether the forward-looking statements
ultimately prove to be correct. Actual results and trends in the future may
differ materially from those suggested or implied by the forward-looking
statements depending on a variety of factors which are described in greater
detail in our filings with the SEC. Please see our Risk Factor disclosures
included in Annual Report on Form 10-K for the year ended December 31, 2011
filed on March 19, 2012, as supplemented by our Current Report on Form 8-K filed
on November 15, 2012, and our Quarterly Report on Form 10-Q filed on November
14, 2012. All future written and oral forward-looking statements attributable to
us or persons acting on our behalf are expressly qualified in their entirety by
the previous statements. We undertake no obligation to update any information
contained herein or to publicly release the results of any revisions to any
forward-looking statements that may be made to reflect events or circumstances
that occur, or that we become aware of, after the date of this press release.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: American Midstream Partners, LP via Thomson Reuters ONE
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