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Enable Midstream Offering $300M for Align Midstream to Grow Haynesville Footprint

Enable Midstream Partners LP is expanding its footprint in the Haynesville Shale, agreeing late Tuesday to pony up $300 million to acquire Align Midstream LLC, whose assets include natural gas gathering and processing in East Texas and North Louisiana.

Dallas-based Align, backed by private equity firm Tailwater Capital, operates about 190 miles of gas gathering pipelines in the East Texas counties of Rusk, Panola and Shelby and in DeSoto Parish, LA, which runs through the Haynesville and Cotton Valley Sands. Align also has a 100 MMcf/d cryogenic natural gas processing plant in Panola. The assets are underpinned by long-term, fee-based contracts, including 100,000 gross acres of dedication from producer customers.

“This transaction complements Enable’s midstream platform in the Ark-La-Tex Basin, and we are well-positioned to integrate and optimize these assets,” said Enable CEO Rod Sailor. “We are excited about the outlook for the Cotton Valley and Haynesville, and this acquisition further builds out our footprint to capture opportunities in active areas of these plays.”

Oklahoma City-based Enable has myriad projects underway in the U.S. onshore, including in the Anadarko Basin and the stacked Oklahoma reservoirs.

Enable’s portfolio includes 12,900 miles of gathering pipelines and 14 processing plants with 2.5 Bcf/d of capacity. It also has 7,800 miles of interstate pipelines, including a half-stake in Southeast Supply Header LLC, along with 2,200 miles of intrastate pipelines and eight storage facilities comprising 85.0 Bcf of storage capacity.

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