Medallion Pipeline Launches Binding Open Season for Major Expansion of Crude Oil Pipeline

Medallion Pipeline Company, LLC (Medallion), a subsidiary of Medallion
Midstream LLC, today announced a binding open season to solicit
long-term firm shipper commitments for a major expansion of its existing
crude oil pipeline system in the Midland Basin. The expansion will
consist of two parts: the Wolfcamp Expansion, which will nearly double
the capacity of Medallion’s existing Wolfcamp Connector mainline; and
the Howard Expansion, which will increase the capacity of the existing
Howard Lateral. Through these projects Medallion will provide
much-needed capacity to transport crude oil produced in the Midland
Basin to downstream pipelines and markets. The open season begins on
Tuesday, May 16, 2017, and ends at 5:00 pm CDT Friday, June 9, 2017.

The Wolfcamp Expansion consists of a 16-inch partial loop of the
Wolfcamp Connector mainline in Howard, Glasscock, Mitchell and Scurry
counties in Texas. The Wolfcamp Expansion will commence at the existing
Howard-Wolfcamp Interconnect and extend 47 miles to the Colorado City
Hub, where Medallion interconnects with several third-party carriers.
The Wolfcamp Expansion will increase the existing capacity on the
Wolfcamp Connector mainline from 105,000 barrels per day to 200,000
barrels per day and provide firm shippers on the Wolfcamp Connector with
multiple options for the receipt and delivery of crude oil.

To further address the needs of producers and marketers in the Midland
Basin, Medallion also will expand the capacity of the existing Howard
Lateral in Glasscock and Howard counties. The Howard Expansion will
increase the existing 60,000-barrel-per-day capacity of the Howard
Lateral to 85,000 barrels per day through the addition of pumping
horsepower. Due to the bidirectional capabilities of the Howard Lateral,
firm shippers on the Howard Expansion will have the flexibility to
transport crude oil on several transportation paths.

The open season provides an opportunity for interested shippers to
acquire long-term firm capacity, under minimum 10-year term
Transportation Services Agreements and other eligibility requirements,
as a committed firm shipper on either the Wolfcamp Expansion, the Howard
Lateral or both. The open season also will provide existing firm
shippers on the Wolfcamp Connector the option to amend their existing
Transportation Services Agreements to obtain the lower Wolfcamp
Expansion firm rate in return for an extension of the primary term of
the Transportation Services Agreement commensurate with the minimum term
required on the Wolfcamp Expansion. The overall expansion project is
expected to commence partial commercial operations in the third quarter
of 2017 and full commercial operations in the fourth quarter of 2017.

OPEN SEASON PROCESS

The open season begins on Tuesday, May 16, 2017 and ends at 5:00 pm CDT
Friday, June 9, 2017. All bids must be submitted to Medallion during the
open season. Bona fide prospective shippers may obtain copies of the
Transportation Services Agreement, as well as the proposed Federal
Energy Regulatory Commission and Texas Railroad Commission tariffs by
contacting the Medallion representative listed below. Medallion requires
a prospective shipper to execute a Confidentiality Agreement prior to
delivery of these documents. More information is available on the
Medallion website www.medallionmidstream.com
or by contacting the Medallion representative listed below.

About Medallion Midstream, LLC

Medallion Midstream is an Irving, Texas based full services midstream
provider specializing in the design, construction and operation of
natural gas and crude oil infrastructure. Medallion delivers responsive,
reliable and comprehensive services and solutions for its customers.
Medallion is a portfolio company of The Energy & Minerals Group. To
learn more about Medallion, please visit www.medallionmidstream.com.

About The Energy & Minerals Group

The Energy & Minerals Group (EMG) is the management company for a series
of specialized private equity funds. The Firm was founded by John
Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses
on investing across various facets of the global natural resource
industry including the upstream and midstream segments of the energy
complex. EMG has approximately $16.0 billion of regulatory assets under
management and approximately $10.4 billion in commitments have been
allocated across the energy sector since inception.

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