Quantum Capital-backed Trace Midstream to acquire natural gas gathering and transportation assets in the Northern Delaware Basin from Old Ironsides Energy-backed LM Energy Delaware.

Quantum Capital-backed Trace Midstream, developer and operator of natural gas midstream assets, agreed to acquire natural gas gathering and transportation assets in the Northern Delaware Basin from Old Ironsides Energy-backed LM Energy Delaware, a midstream oil and gas company. Financial terms were not disclosed. “This acquisition marks a significant milestone for Trace as we enter the Northern Delaware Basin. We are excited to build upon LM Energy’s already well-executed system and track record of success. With substantial natural gas midstream constraints across the Northern Delaware, we are committed to expanding LM Energy’s assets and providing additional services for the region’s producers,” Josh Weber, Trace CEO.