EnLink Midstream to acquire Gulf Coast NG pipeline systems

EnLink Midstream

The EnLink Midstream companies, EnLink Midstream Partners LP (NYSE:ENLK) (the Partnership) and EnLink Midstream LLC (NYSE:ENLC) (the General Partner) (together “EnLink”), report that a subsidiary of the Partnership has signed a definitive agreement with Chevron Pipe Line Co. and Chevron Midstream Pipelines LLC to acquire Gulf Coast natural gas pipeline assets, including the Bridgeline system, predominantly located in Southern Louisiana for $235 million.

The natural gas assets include 1,400 miles of natural gas pipelines spanning from Beaumont, Texas, to the Mississippi River corridor and 11 billion cubic feet of working natural gas storage capacity in Southern Louisiana. These natural gas assets, combined with the Partnership’s existing Louisiana assets, will provide EnLink Midstream with tremendous optionality to provide services to Southern Louisiana’s growing industrial, refining and petrochemical marketplace.

The transaction is expected to be completed in the fourth quarter of 2014.

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