Houston-based Black Bear Transmission LLC has acquired a portfolio of natural gas transmission assets from a subsidiary of Third Coast Midstream LLC that span 1,400 miles in Alabama, Louisiana and Mississippi.
The six intrastate pipeline system has capacity of more than 800 MMcf/d with interconnectivity to long-haul pipelines.
This is Black Bear’s second bolt-on acquisition. In April, it bought the Ozark system of pipelines from a subsidiary of Enbridge Inc.
“This investment expands our asset base of high-quality, demand-driven natural gas pipelines in the Southeastern United States,” said CEO Rene Casadaban.
The transaction is expected to close in the second half of 2020, subject to customary regulatory approvals and closing conditions. Terms of the transaction were not disclosed.
Black Bear transports and delivers natural gas from various pipeline receipt points to power generation, industrial and utility customers in the southeastern United States.
The company has eight natural gas pipelines with total delivery capacity of more than 1.8 Bcf/d. The pipelines are connected to 12 major long-haul pipelines, providing gas supply to customers across Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma and Tennessee.
Black Bear is a portfolio company managed by Basalt Infrastructure Partners II GP Ltd. Basalt Infrastructure funds provide backing for investments in utilities, power, transport and communications infrastructure in North America and Europe.
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