Summit Midstream Partners LLC is acquiring midstream gas assets in the Piceance Basin from Encana Oil & Gas (USA) Inc. for $590 million. The assets include about 260 miles of pipeline and 90,000 hp of compression facilities and serve Mamm Creek, Orchard and South Parachute production in the area around Rifle, CO. They are currently transporting about 500 MMcf/d of gas under long-term contracts with multiple producers, according to Summit. Dallas-based Summit, which is privately held, has also committed to build for Encana the midstream infrastructure necessary to support its emerging Niobrara development. The sale of the Piceance Basin assets is subject to regulatory approvals and closing conditions and is expected to close during the current quarter.
Acquiring
Articles from Acquiring
Piceance Basin Midstream Assets Change Hands
Summit Midstream Partners LLC is acquiring midstream gas assets in the Piceance Basin from Encana Oil & Gas (USA) Inc. for $590 million, the company said Tuesday.
PwC: U.S. Midstream, Shale Transactions Boost Merger Activity
Interest in acquiring shale acreage, midstream transactions and foreign investments in the United States drove domestic natural gas and oil mergers and acquisitions (M&A) value to $39 billion in the second quarter, according to an analysis by PwC US.
Pennsylvania Marcellus Passes Yearly 1,000-Well Mark
Operators drilled more than 1,000 wells into the Pennsylvania Marcellus Shale through the end of July, a milestone not reached until mid-September in 2010 and not at all in 2009.
Encore, Vanguard Buying Permian Assets
Encore Energy Partners LP (ENP) and its general partner, Vanguard Natural Resources LLC, each are acquiring a 50% stake in producing oil and gas assets in the Permian Basin from a private seller for a total price of $85 million.
Western Gas Builds Rockies Portfolio
Western Gas Partners LP, which until now has built its portfolio by acquiring assets from parent Anadarko Petroleum Corp., agreed last week to pay $303.3 million to buy some U.S. midstream properties from Encana Corp.
Western Gas Builds Rockies Portfolio
Western Gas Partners LP, which until now has built its portfolio by acquiring assets from parent Anadarko Petroleum Corp., said Tuesday it would pay $303.3 million to buy some midstream properties from Encana Corp.’s U.S. subsidiary.
Magnum Hunter Adds to West Virginia Holdings
Magnum Hunter Resources Corp. subsidiary Triad Hunter LLC is acquiring oil and gas properties and leasehold mineral interests in Wetzel and Lewis counties, WV, in the Marcellus Shale from Oklahoma City-based PostRock Energy Corp.
Vanguard Buying Oily Assets From Denbury Resources
Vanguard Natural Resources LLC is acquiring all of Denbury Resources Inc.’s interest in Dallas-based Encore Energy Partners LP (ENP) for $380 million, the parties said last week. The “oil-focused” deal gives Vanguard more than 43 MMBoe of estimated proved reserves, about one-third natural gas.
Vanguard Picking Up Oily Assets From Denbury Resources
Vanguard Natural Resources LLC is acquiring all of Denbury Resources Inc.’s interest in Dallas-based Encore Energy Partners LP (ENP) for $380 million, the parties said Wednesday. The “oil-focused” deal gives Vanguard more than 43 MMBoe of estimated proved reserves, about one-third natural gas.
