AltaGas Services recently bought three Canadian processingfacilities and associated gathering lines worth $17.4 million,continuing the Calgary-based midstream company’s trek toward the$200 million growth-spending goal set at the beginning of 1999.With this purchase, AltaGas has spent and committed a total of $115million in its acquisitions and expansion program this year.

The northwestern and central Alberta facilities were purchasedfrom two Canadian producers who wished to remain anonymous. Theplants have a total processing capacity of 50 MMcf/d and currentlyprocess 28 MMcf/d of sweet gas and 600 b/d of natural gas liquids.Their addition increases AltaGas’ overall processing capacity by10%.

On the financial side of the company’s growth strategy, AltaGasrecently gained conditional listing approval from the Alberta StockExchange and trading is expected to commence prior to July 31.AltaGas will also seek a listing from a senior exchange in the nearterm.

Established in April 1994, AltaGas has acquired or constructedover $370 million in natural gas assets, including 57 processingfacilities with intake capacity of 585 MMcf/d, approximately 2,500miles of gathering lines in Alberta and Saskatchewan, 199 MMcf/d ofethane and natural gas liquids extraction plant processing capacityand ownership of AltaGas Utilities Inc.

John Norris

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