South Texas Gas Plant Available in Bankruptcy Sale

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Oct 23, 2024, 08:32 ET

In court-ordered asset disposition, Tiger Group and Liquidity Services offer high-capacity gas gathering and processing plant in DeWitt County

NORDHEIM, Texas, Oct. 23, 2024 /PRNewswire/ -- In an opportunity for expanding oil-and-gas companies, Tiger Group and Liquidity Services are now accepting purchase offers for the gas gathering and processing plant formerly operated by El Dorado Oil & Gas, Inc., on the Eagle Ford Shale in South Texas.

The sale is subject to the final order of the U.S. Bankruptcy Court for the Southern District of Mississippi, which is handling the national energy service firm's bankruptcy case (No. 23-51715-JAW).

Tiger Group and Liquidity Services are currently accepting purchase offers for the gas gathering and processing plant formerly operated by El Dorado Oil & Gas, Inc.

The plant is located on the Eagle Ford Shale in South Texas a mile northwest of Nordheim.

"Proximate to the productive Eagle Ford Shale, this asset represents a strong opportunity for midstream companies with existing or prospective South Texas operations," noted Chad Farrell, Managing Director, Tiger Commercial & Industrial. "We are accepting offers for the entirety of the facility, which is in good condition and available for immediate inspection, as well as the 17.11-acre tract of land in DeWitt County."

The plant, which is a mile northwest of Nordheim off of Farm-to-Market Road 324 and Cabeza Road, processes gas via a single train consisting of slug catcher, H2S treating, dehydration and metering. It processes condensate via a single liquid train consisting of a condensate surge tank, LP separator, oil treaters, oil storage and LACT units for truck loading.

"Flash gas is compressed and injected into the high-pressure gas stream," Farrell said. "Tank vapors can also be recovered and compressed, with product water separated and removed at the well pads. A smokeless flare stack can handle flare and relief gas."

Peak gas production is 60 million standard cubic feet per day (MMscf/d). Peak oil production is 4,500 barrels of oil per day.

Equipment specifications:

Slug catcher design: 1 unit, 100 MMscf/d, 5,000 barrels of liquid per day
Dehydrator unit skid design: 4 units, 15 MMscf/d
Vapor recovery unit skid design: 1 unit, 0.7 MMscf/d
Two-5,000 barrel crude/natural gas liquids (NGL) tanks
Two LACT Units
NGL bullet design: 1 unit, 30,000 gallons
Security: fenced, electric gates, LED lights, 750 kilovolt-amperes (KVA) transformer

Gulfport-based El Dorado filed for Chapter 11 this past December. It held a diverse array of equipment at 37 locations, primarily in Mississippi and Texas, but also in Alabama, Louisiana, Nevada, North Dakota, Ohio, Oklahoma, Tennessee, Virginia, Wyoming, and other locations.

For asset photos, descriptions, and other information, visit:

https://soldtiger.com/sales/gas-gathering-and-processing-plant/

About Tiger Group
Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and provide capital or convert assets to capital quickly and decisively. Tiger maintains offices in New York, Los Angeles, Boston, Chicago, Houston and Toronto. https://tigergroup.com/

About Liquidity Services
Liquidity Services operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills. https://liquidityservices.com/

Media Contacts: At Tiger Group, Maria Hoang, (805) 497-4999, [email protected]. At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected].

SOURCE Tiger Group