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Apache Continues Alpine High Infrastructure Buildout With New NGL Project

Apache Corp. (NYSE: APA) continued the infrastructure buildout of its Alpine High development area in the Permian’s Delaware Basin with an agreement May 14 to build a new NGL project. The NGL project will consist of a 445,000 barrel-per-day capacity NGL header system named SCM Alpine LLC, which will be developed by Apache Midstream, ARM Energy Holdings LLC and its affiliate, Salt Creek Midstream LLC. As part of the agreement, ARM will construct, manage, operate and own an interest in the Alpine header system. Additionally, Apache Midstream signed an option to acquire a 50% stake in the system. The terms of the transaction weren’t disclosed.
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