Strategic Pipeline Income Fund Acquires West Texas and Colorado Assets
Strategic Pipeline Income Fund has purchased royalty and mineral interests in Weld County, Colorado. With an effective date of January 01, 2019, the purchase covers the pipelines and related infrastructure of 15 wells that produce 1,726 barrels of oil per day and 1,056 MCFD of natural gas. The purchase also covers 5 additional wells that have not yet been brought online but are expected to add significant revenue with no additional capital expenditures.
The Strategic Pipeline Income Fund also acquired assets located in the Permian Basin in West Texas. These assets cover an additional 2,217 barrels of oil per day and 4,091 MCFD of natural gas, with an effective date of December 01, 2018.
The Strategic Pipeline Income Fund to date has acquired assets located in North Dakota, Colorado and Texas. It will continue to focus on these three geographical areas of North America because the fund manager and it’s general partner NEP Midstream and Royalties believe they have the best upside potential and can partner with industry veterans to provide consistent returns.