HOUSTON--(BUSINESS WIRE)--Ryckman Creek Resources, LLC, a subsidiary of Peregrine Midstream Partners LLC, has just concluded its non-binding Open Season for firm natural gas storage service at its high-deliverability, multi-cycle (HDMC) natural gas storage facility in Uinta County, Wyoming. In response to Ryckman's offer of 8 Bcf of firm HDMC capacity, available beginning April 1, 2013, Ryckman received market-priced bids from 23 companies for three and a half times the capacity offered. Ryckman began commercial operations in August 2012.
“We will now begin working with the top bidders to finalize new firm service agreements that will commence next spring with our initial firm service agreements that we entered into after our first open season two years ago.”
"The number of bids that Ryckman received in the open season reflects the strong demand for well connected high-deliverability, multi-cycle gas storage capacity in the Western Rockies near the Opal Hub," said Peregrine Chief Commercial Officer Jeff Foutch. "We will now begin working with the top bidders to finalize new firm service agreements that will commence next spring with our initial firm service agreements that we entered into after our first open season two years ago."
The Ryckman Creek Gas Storage Facility is connected to five interstate pipelines, including Kern River, Questar, Overthrust Pipeline, Ruby Pipeline and Northwest Pipeline, all of which also connect to the Opal Hub located just north of Ryckman Creek.
About Peregrine Midstream Partners LLC
Headquartered in Houston, TX, Peregrine Midstream Partners is a privately-held limited liability company founded in 2009 by the former founders and management team of Falcon Gas Storage Company to pursue development and acquisition opportunities in the midstream energy sector. Peregrine’s midstream business model is focused on natural gas storage, transportation, gathering and processing; NGL extraction; crude oil and NGL production, storage, handling, marketing and sales in association with HDMC natural gas storage development and operations. Please visit Peregrine Midstream Partners at www.peregrinempllc.com.