Milestone: Medallion Midstream announces Delaware project

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[Context: On December 6, Medallion Midstream, backed by Energy Minerals Group (EMG), announced a Southern Delaware Basin [map] crude pipeline project serving Parsley Energy (NYSE: PE).]

Medallion Midstream Services Announces Southern Delaware Basin Crude Oil Pipeline

IRVING, Texas–December 06, 2016–(BUSINESS WIRE)–Medallion Midstream, LLC and its affiliate, Medallion Midstream Services, LLC, (Medallion) today announced that it has entered into a letter of intent to construct a new Delaware Basin crude oil pipeline system to provide crude oil gathering and transportation services for Parsley Energy (NYSE: PE) (Parsley). The new pipeline will be anchored by Parsley’s long-term dedication to Medallion of approximately 35,000 acres held under lease and/or mineral interest in Pecos and Reeves Counties, Texas.

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