Concho Resources and Frontier Midstream to form Beta Crude Connector JV.

Concho Resources, an unconventional shale producer, and Frontier Midstream, a full-service midstream company focused on the development of new midstream crude oil and natural gas infrastructure, agreed to form Beta Crude Connector joint venture, the new gathering and transportation system. Concho and Frontier will each own a 50% equity interest in BCC, with Frontier serving as operator. Financial terms were not disclosed. “We are excited to partner again with Frontier in the development of the Beta Crude Connector. Through the joint venture, we will leverage Frontier’s midstream expertise and enhance the value of our high-quality footprint in the Midland Basin with a reliable, cost-efficient gathering and transportation solution. Importantly, this is a compelling investment opportunity that we can make with no changes to our capital plans,” Jack Harper, Concho President.