Ken Purgason, Tony Catalano, and Mike Urban announced that they have formed a new midstream energy venture, Tristream Energy, LLC. Tristream Energy develops, acquires and operates midstream infrastructure downstream of producer facilities in major US producing basins. Tristream management is experienced in the full range of midstream operations including onshore and offshore gathering, conventional/nonconventional gas, nitrogen rejection, compression, hydrocarbon or acid gas reinjection, gas treating, processing product fractionation and storage.
In 1998, Messrs. Purgason and Catalano co-founded Sago Energy, LP, a midstream company that operated over 2,400 miles of gathering and transmission lines and associated processing, fractionation and treatingassets in Texas and Louisiana. Mr. Urban was Sago’s Chief Financial Officer. Sago sold its Louisiana and Texas operating subsidiaries last year.
Mr. Purgason stated that “Tristream Energy has the commercial, technical, and regulatory expertise to create more value for producers’ gas by providing additional sales outlets and moving stranded or shut in gas. Tristream can also purchase existing producer owned midstream assets, such as pipelines processing or treating plants. This can provide the producer with immediate cash for additional development or acquisition opportunities.”