FR BR Holdings, LLC owns a 50% interest in Blue Racer Midstream. Blue Racer was formed in December 2012 to own, operate, develop and acquire midstream assets in the Utica Shale and certain adjacent areas in the Marcellus Shale. Blue Racer provides natural gas gathering, compression, dehydrating, treating, processing and transportation services and NGL fractionation and transportation services. Blue Racer also gathers, stabilizes and transports condensate.