Blue Racer Midstream, a 50/50 midstream joint venture between Dominion and Caiman Energy II, was formed last December (see Dominion, Caiman in $1.5B Utica JV: Blue Racer Midstream). One of the assets that belongs to the Blue Racer jv is the newly online Natrium, WV NGL plant (see Dominion Sells $500M Natrium NGL Plant to… Itself).
In order to expand and fulfill their vision of becoming the leading midstream company in the Utica Shale, Blue Racer needs money to build things. They now have it. Blue Racer announced yesterday they’ve secured an $800 million line of credit with a group of banks–a line of credit which can be (under certain conditions) expanded to a whopping $1 billion. That kind of money will easily build you another couple of Natrium NGL plants…
