Access Midstream 3Q12: 65 New Marcellus Wells Connected
Access Midstream Partners, a pipeline, compressor station and processing plant (infrastructure) company with operations in the Marcellus Shale released their third quarter financial and operational update on Monday. They report a 26.9% increase in the amount of natural gas moving through their pipelines for 3Q12 compared with 3Q11 mostly from their Marcellus operations which they acquired in December 2011. Access hooked up 186 new wells to their gathering system pipelines during 3Q12 across all of the plays they service (65 in the Marcellus alone), an increase of 27.4% over the same period in 2011. In addition, 3Q12 income was plus $2 million. What’s not to like about a good midstream company?!
Here are relevant sections from the Access Midstream 3Q12 update: