3Bear Energy Announces Greenfield Northern Delaware Basin Gathering and Processing System

DENVER–(BUSINESS WIRE)–3Bear Energy, LLC (“3Bear”) announced today that it has entered into
definitive agreements with an anchor shipper to develop, own and operate
a gathering and processing system serving the Northern Delaware Basin in
Lea and Eddy Counties in New Mexico. The 3Bear system will provide
Permian producers with midstream solutions for their oil, gas and water
production.

3Bear is constructing more than 100 miles of pipeline wellhead gathering
including systems for oil, gas and water transportation, a central water
treatment facility, crude terminal and a 60,000 Mcf/d cryogenic gas
processing plant with treating capabilities. The 3Bear system is
designed for expansion and will accommodate the rapid production growth
Delaware Basin producers are experiencing. 3Bear expects the system to
be operational in the first quarter of 2018.

Bob Clark, CEO, said, “3Bear is pleased to be able to provide midstream
services to our customers in support of their drilling plans in one of
North America’s fastest growing oil and gas basins. The 3Bear system is
ideally positioned in the basin and will provide an excellent platform
as we continue to expand our assets to serve producers’ growing volumes
of crude, gas, and water across the Northern Delaware. 3Bear is well
capitalized and able to meet all the needs of producers in this rapidly
growing basin.”

About 3Bear Energy, LLC

3Bear is a Denver based, private, full service midstream energy company
specializing in greenfield project development with more than 200 years
of collective experience and a proven track record of innovative,
cost-effective solutions for oil, water and natural gas production. With
backing from long term partner GSO Capital Partners, 3Bear is well
capitalized and positioned for growth. 3Bear is focused on developing
midstream infrastructure for Permian and Rockies Producers. For more
information, please visit www.3BearLLC.com

About GSO

GSO Capital Partners LP is the global credit investment platform of
Blackstone. With approximately $95 billion of assets under management,
GSO is one of the largest alternative managers in the world focused on
the leveraged-finance, or non-investment grade related, marketplace. GSO
seeks to generate attractive risk-adjusted returns in its business by
investing in a broad array of strategies including mezzanine debt,
distressed investing, leveraged loans and other special-situation
strategies. Its funds are major providers of credit for small and
middle-market companies

Contacts

3Bear Energy, LLC
Shawn Radtke
Chief Financial Officer
(303)
626-8290
[email protected]