Caiman is a results-driven organization with the capital available to take decisive action and execute with speed and precision. Our track record of success in the Marcellus Shale demonstrates our commitment to excellence. Click here for a map of the franchise position we established in the Utica Shale.
Timeline of Major Events
Execution of first commercial contracts and acreage dedications in the Marcellus Shale.
March 19, 2010
First well connected to the Ft. Beeler gathering system in West Virginia.
Caiman secures an additional $300 million equity commitment from EnCap Flatrock Midstream and its affiliates.
Caiman secures an additional $200 million revolving credit facility led by Bank of America, N.A. and Wells Fargo Securities, LLC.
Ft. Beeler I, Caiman's first cryogenic processing plant, comes into service at Ft. Beeler in Marshall County, West Virginia: 120 MMcf/d.
Highstar Capital commits to provide up to $300 million of preferred funding. This commitment makes a total of more than $1 billion available to Caiman for investment in midstream infrastructure in the Marcellus shale.
Ft. Beeler II cryo online: 210 MMcf/d, bringing total processing capacity to 320 MMcf/d and 550 MMcf/d by Q3, 2012.
- Ft. Beeler III: 210 MMcf/d (August 2012)
Fractionation I facility at Moundsville completed: 12,500 Bbls/d.
- Frac II: 30,000 Bbls/d (October 2012)
- Frac III: 30,000 Bbls/d (October 2013)
Caiman has a well-established franchise position in the rich gas area of the Marcellus. Map here.
- 236,000 dedicated acres
- Residue takeaway capacity via TETCO
- Ft. Beeler NGL processing & de-ethanization complex (320 MMcf/d by Q3, 2012)
- Moundsville fractionation (12,500 Bbls/d of C3+ by Q4 2013)
- Taylor NGL processing & de-ethanization complex (420 MMcf/d by year-end , 2013 & 15 Bbls/d by early 2014)
- > 200 miles of gathering lines and >50 miles of condensate gathering lines by year end 2013
- > 50 miles of ethane lines by year end 2013
March 19, 2012
Caiman Eastern Midstream sold to Williams Partners (NYSE:WPZ) for $2.5 billion. Sale is completed on April 27, 2012. Caiman and Williams announce plans for Williams to provide equity to support Caiman's Utica Shale opportunity.
Caiman secures $800 million in equity commitments.
Caiman Energy II announces formation of Blue Racer Midstream, LLC, a joint venture with Dominion (NYSE: D) to develop midstream assets in the Utica Shale.
Blue Racer Midstream takes over the Natrium Gas Processing and Fractionation Plant serving the Marcellus and Utica shale plays.
Blue Racer Midstream secures $800 million credit facility.
Natrium 2 facility completed bringing total processing capacity to 420 MMcf/d.
Berne I facility completed bringing total processing capacity to 630 MMcf/d
Blue Racer Midstream increases credit facility to $1 billion.
Blue Racer Midstream announces pricing of $550 million upsized offering of senior notes.
Berne II facility commissioned, bringing to total processing capacity to 800 MMcf/d. Fractionation capacity at Natrium Natural Gas Processing and Fractionation Complex expanded to 123,000 barrels per day.
Blue Racer Midstream announces pricing of $300 million offering of senior notes.