CMS Energy said it would use the proceeds from the sale of its Marysville Gas Liquids subsidiary to reduce debt. The Jacksonville, MI company said Thursday it had sold the terminal to Marysville Hydrocarbons Inc. for an undisclosed amount.
The main asset of Marysville Gas Liquids is its 51% interest in the Marysville Underground Storage Terminal, which stores propane and other hydrocarbon liquids in underground caverns. The terminal is south of Port Huron, MI.
Marysville Hydrocarbons is a new company formed by Everest Energy and Dart Energy Corp. Dart Energy, based in Mason, MI., has been in the energy business since the mid-1970s. Everest Energy is a diversified energy company based in Warren, MI, which is active in energy marketing, oil and gas exploration and production and the midstream business.
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