Gas Gathering Systems

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  1. Enterprise to purchase two natural gas gathering systems from M2 Midstream

    Source: Enterprise Products Partners Enterprise Products Partners L.P. ( EPD ) has executed definitive agreements to purchase two natural gas gathering and treating systems from subsidiaries of M2 Midstream LLC (Momentum) in a negotiated transaction for approximately $1.2 billion. These systems are located in Northwest Louisiana and East Texas and gather natural gas produced from the Haynesville/Bossier Shales and the Cotton Valley and Taylor Sands formations.  The State Line system is located in Desoto and Caddo Parishes, Louisiana and Panola County, Texas. The system includes 138 miles of natural gas pipelines with a capacity of approximately 400 million cubic feet per day (MMcfd) and two treating facilities. The State Line system began operations in February 2009 and is currently gathering approximately 260 MMcfd. A 50-mile expansion of this system is expected to be completed in June 2010 and will increase its capacity to 700 MMcfd. The State Line system is supported by long-term acreage dedications and volumetric commitments from producers.  The State Line system will interconnect with the 42-inch Haynesville Extension of Enterprise’s Acadian natural gas pipeline system. The Haynesville Extension is currently under construction and expected to be completed in the third quarter of 2011. Once connected to the Haynesville Extension, the State Line system can be further expanded to 1.2 billion cubic feet per day for a nominal cost.  The Fairplay system is located in Rusk, Panola, Gregg and Nacogdoches counties, Texas. The system includes 249 miles of natural gas pipelines (including approximately 62 miles leased from third parties) with a capacity of approximately 285 MMcfd, and is currently gathering approximately 180 MMcfd. This system is expected to be connected to the Enterprise Texas Pipeline system by the first quarter of 2011. The Fairplay system is also supported by long-term acreage dedications and volumetric commitments from producers.  “We are excited about this transaction with Momentum, which accelerates our entry into the Haynesville/Bossier Shale Play and substantially increases our footprint in the area,” said Enterprise president and chief executive officer Michael A. Creel. “This purchase offers producers on the State Line system an alternative to the takeaway pipelines going to Perryville as a result of our planned connection to the Haynesville Extension which provides producers with an outlet to markets in South Louisiana and interstate pipelines that serve natural gas markets in the Southeast United States.”  “The State Line and Fairplay systems complement Enterprise’s downstream assets and provide multiple opportunities for synergies, including a long-term gathering conduit for our Haynesville Extension pipeline and Enterprise Texas Pipeline, as well as NGL volumes for our Panola Pipeline and downstream Mont Belvieu fractionation, storage and distribution complex. Natural gas volumes on the State Line system are expected to increase significantly over the next five years based on producer forecasts. With our low cost of capital, we expect this transaction to be accretive to distributable cash flow in the second half of 2010,” continued Creel.  Completion of the transaction is subject to customary regulatory approvals, including those under the Hart-Scott-Rodino Antitrust Improvements Act, and other customary closing conditions. The transaction is expected to close in early May 2010.

    Online Articles

    Online Articles

    Thu, 1 Apr 2010

  2. Howard Energy Partners to buy S. Texas gas gathering systems

    Howard Energy Partners agreed to acquire natural gas gathering assets in South Texas from Meritage Midstream Services. The acquisition involves the Eagle Ford Escondido Gathering System, which is partially owned by Laredo Energy, and the Cuervo Creek Gathering System.

    Online Articles

    Online Articles

    Thu, 15 Mar 2012

  3. PDC Energy enters Delaware basin in $1.5-billion deal

    PDC Energy Inc., Denver, has agreed to acquire two privately held units managed by energy-focused privately equity firm Kimmeridge Energy Management Co. LLC, including 57,000 net acres in Reeves and Culberson counties in Texas, with average working interest of 93%, for $1.5 billion.

    Online Articles

    Online Articles

    Wed, 24 Aug 2016

  4. Outrigger Energy appoints Hatfield as VP, West Texas

    Outrigger Energy has hired Rodney D. Hatfield as vice president, West Texas, to lead the company’s business development efforts in the Permian Basin.

    Online Articles

    Online Articles

    Fri, 4 Sep 2015

  1. GIP II and Hess form midstream Bakken JV

    Online Articles

    Online Articles

    Mon, 15 Jun 2015

  2. Hess to sell interest in Bakken midstream assets and form new JV

    Hess Corp. has agreed to sell a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners.

    Online Articles

    Online Articles

    Thu, 11 Jun 2015

  3. North Dakota regulators give Bakken producers extension to meet flaring requirements

    The North Dakota Industrial Commission (NDIC) gave the oil and gas industry 10 extra months to reduce the amount of associated natural gas flared at oil wells, citing industry’s comments that pipeline construction delays have made it all but impossible to meet existing targets.

    Online Articles

    Online Articles

    Fri, 25 Sep 2015

  4. Hess announces midstream joint venture in Bakken shale play

    Hess Corporation and Global Infrastructure have announced a midstream joint venture in the Bakken shale play. 

    Online Articles

    Online Articles

    Thu, 11 Jun 2015

  5. Hess, GIP form $5.35-billion Bakken midstream JV

    Global Infrastructure Partners (GIP), an independent infrastructure fund manager, has agreed to acquire 50% interest in Bakken shale midstream assets belonging to Hess Corp. for of $2.675 billion in cash.

    Article

    Article

    Thu, 11 Jun 2015

  6. Hess completes sale, establishes Bakken midstream JV

    Hess Corp. has completed the sale of a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion.

    Online Articles

    Online Articles

    Thu, 2 Jul 2015

  7. Rice files registration statement for IPO of Rice Midstream Partners

    Rice Energy Inc. reports that its wholly owned subsidiary, Rice Midstream Partners LP, has filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with its proposed initial public offering of common units representing limited partner interests.

    Online Articles

    Online Articles

    Fri, 7 Nov 2014

  8. Energy M&A under the Hart-Scot- Rodino Act

    At a time when there is significant M&A activity in the energy industry, it is critical for energy companies to understand how the premerger notification filing requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976,  and the regulations promulgated under the Act,  may apply to ...

    Online Articles

    Online Articles

    Mon, 11 Nov 2013

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