History

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

February 2009

EnCap Flatrock Midstream, EnCap Investments L.P. and affiliates commit $50 million to Caiman Energy.

September -
November 2009

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.

July 2010

Caiman secures an additional $300 million equity commitment from EnCap Flatrock Midstream and its affiliates.

March 2011

Caiman secures an additional $200 million revolving credit facility led by Bank of America, N.A. and Wells Fargo Securities, LLC.

April 2011

Ft. Beeler I, Caiman's first cryogenic processing plant, comes into service at Ft. Beeler in Marshall County, West Virginia: 120 MMcf/d.

July 2011

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.

February 2012

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)

March 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.

July 2012

Caiman secures $800 million in equity commitments.

December 2012

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.

August 2013

Blue Racer Midstream takes over the Natrium Gas Processing and Fractionation Plant serving the Marcellus and Utica shale plays.

August 2013

Blue Racer Midstream secures $800 million credit facility.

February 2014

Natrium 2 facility completed bringing total processing capacity to 420 MMcf/d.

April 2014

Berne I facility completed bringing to total processing capacity to 630 MMcf/d

July 2014

Blue Racer Midstream increases credit facility to $1 Billion dollars.

November 2014

Blue Racer Midstream announces pricing of $550 million upsized offering of senior notes.

June 2015

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.

July 2015

Blue Racer Midstream announces pricing of $300 million offering of senior notes.