US-based energy company Elevation Midstream has announced its merger with Platte River, a subsidiary of ARB Midstream, to create a midstream platform.

The strategic move is aimed at enhancing Elevation’s position in the Denver-Julesburg Basin by leveraging increased scale, connectivity and a diversified service offering.

The merger is set to create a growth-oriented midstream company with a robust balance sheet.

Elevation is engaged in providing comprehensive services including three-product gathering, crude stabilisation, gas compression and water logistics.

The company also provides tankless gathering options that support efficient emissions management for its clients.

Elevation said that the merger with Platte River brings additional assets including more than 200 miles of crude gathering and transmission pipelines.

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The Platte River assets grant customers access to multiple markets through the Platteville and Lucerne Terminals, which feature truck offloading capabilities.

This enables producers to maximise their output by utilising services such as batching, blending and accessing premium markets.

Supported by a strong balance sheet, extensive network and facilities, the combined entity is expected to serve as a robust platform for organic growth and strategic acquisitions in the basin, stated Elevation Midstream.

Elevation Midstream CEO John Roberts said: “ARB has built a highly strategic business with a great track record servicing their producer customers. Our assets are interconnected and complementary, and the combination creates a midstream system of significant scale in the basin.

“This transaction represents the first step in Elevation’s strategy to serve as a consolidator of DJ Basin gathering and processing assets. It has immediate operational synergies and will unlock additional accretive opportunities for continued growth.”

Financial advisory services for the merger were provided by Intrepid Partners and legal guidance by Vinson & Elkins for Elevation.

ARB’s subsidiary, Platte River, was advised financially by Jefferies and legally by Locke Lord.

ARB Midstream CEO Dan Campbell said: “Platte River and Elevation share a similar culture and safety-focused operating philosophy, and with contiguous crude, gas and water assets, we are strongly positioned to drive significant midstream consolidation.”