Western Gas Partners LP. agreed to acquire the Red Desert Complex and related assets, primarily located in the greater Green River Basin of southwestern Wyoming from parent Anadarko Petroleum Corp. for $483 million. Included in the purchase is Anadarko’s 100% ownership interest in Mountain Gas Resources LLC (MGR), which owns the Red Desert Complex, a 22% interest in Rendezvous Gas Services LLC and related facilities. Red Desert represents most of MGR’s cash flow (90%) and includes the Patrick Draw processing plant with a capacity of 125 MMcf/d, the Red Desert processing plant with a capacity of 48 MMcf/d, 1,295 miles of gathering lines and related facilities. Rendezvous owns a 338-mile mainline gathering system serving the Jonah and Pinedale Anticline fields in southwestern Wyoming, which delivers gas to WES’s Granger Complex and other locations. Red Desert and Rendezvous together are expected to generate more than 98% of MGR’s operating cash flows. The acquisition is scheduled to close in January.
Acquire
Articles from Acquire
Western Gas Buys More Anadarko Midstream Properties
Western Gas Partners LP (WES) on Thursday agreed to acquire the Red Desert Complex and related assets, primarily located in the greater Green River Basin of southwestern Wyoming, from parent Anadarko Petroleum Corp. for $483 million.
Direct Energy Buys Encana Properties
Canada’s Direct Energy on Friday agreed to pay Encana C$58 million in cash to acquire a package of natural gas-weighted producing assets in the Carrot Creek region of west-central Alberta.
BP Sells Canadian NGL, LPG Businesses for $1.67B
A subsidiary of Plains All American Pipeline LP (PAA) said Thursday it would pay $1.67 billion to acquire BP plc’s Canadian natural gas liquids (NGL) and liquefied petroleum gas (LPG) business.
Weir Extends Reach into North America’s Unconventional Fields
Scottish upstream operator Weir Group plc is extending its reach into North America’s unconventional natural gas and oil fields with a deal to acquire Houston-based Seaboard Holdings Inc. for $675 million.
Industry Briefs
The Federal Trade Commission (FTC) has approved the proposal of Norway’s Statoil ASA, which already has significant holdings in the Marcellus and Eagle Ford shales, to acquire Austin, TX-based independent Brigham Exploration Co., which would give it access to the Williston Basin’s Bakken and Three Forks oily formations. The transaction has cleared the Hart-Scott-Rodino waiting period with the FTC imposing no restrictions. The transaction is valued at $4.4 billion (US$36.50/share) and is expected to close either later this year or early in 2012, Brigham said. The transaction would give Statoil access to more than 375,000 net acres in the Williston Basin, which holds potential for oil and gas production from the Bakken and Three Forks formations. Brigham also holds interests in 40,000 net acres in other onshore plays. In addition to the production assets, the transaction also provides Statoil with about 430 miles of oil, natural gas and water transportation systems in the Williston Basin, which not only secures wastewater offtake but reduces the environmental footprint in production operations.
FTC OKs Statoil’s Bid for Brigham Exploration
The Federal Trade Commission (FTC) has approved the proposal of Norway’s Statoil ASA, which already has significant holdings in the Marcellus and Eagle Ford shales, to acquire Austin, TX-based independent Brigham Exploration Co., which would give it access to the Williston Basin’s Bakken and Three Forks oily formations.
EnerVest to Acquire Encana’s Barnett Portfolio
EnerVest Ltd. on Thursday said it had come to terms with Encana Corp. to acquire the Calgary-based producer’s Barnett Shale portfolio in North Texas for $975 million.
Industry Briefs
Kinder Morgan Energy Partners LP (KMP) has agreed to acquire SouthTex Treaters, a manufacturer, designer and fabricator of natural gas treating plants that remove carbon dioxide and hydrogen sulfide, for about $155 million. The manufactured amine plants range in size from five to 1,200 gallons per minute of treating capacity. Kinder Morgan Treating, a subsidiary of KMP, is a large provider of contract-operated treating and hydrocarbon dew point conditioning plants. “This acquisition will enable us to provide large amine plants for centralized treating facilities, which are often needed in the rapidly developing shale plays,” said Bill Stokes, vice president of Kinder Morgan Treating. “We will also be able to replenish our already large inventory of amine plants and offer our customers even more flexibility for their treating needs.” Closing is expected during the fourth quarter.
Statoil to Acquire Brigham and With It, Williston Entry
Norwegian heavyweight Statoil ASA, which already holds substantial assets in the Marcellus and Eagle Ford shales, has a deal on the table to acquire Austin, TX-based independent Brigham Exploration Co., which would give it access to the Williston Basin’s Bakken and Three Forks oily formations.
