Sempra Energy on Thursday said it has reached an agreement to sell some U.S. natural gas storage facilities to private equity investor ArcLight Capital Partners LLC for $332 million.
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ArcLight Capital Partners LLC said Thursday it has acquired privately held Energy Corporation of America (ECA) and a trove of natural gas assets in the Appalachian Basin to form an exploration and production (E&P) company. The purchase price was not disclosed.
American Midstream’s Friendly Tie-Up with JP Energy to Combine Onshore, Offshore NatGas-Heavy Enterprise
American Midstream Partners LP agreed Monday to merge with JP Energy Partners LP in a unit-for-unit transaction valued at $2 billion, which would create an enterprise with natural gas and oil pipelines and processing capacity stretching from the deepwater Gulf of Mexico (GOM) into the Permian Basin and through the Eagle Ford and Bakken shales.
Penn Virginia Corp. (PVA) is selling substantially all of its Eagle Ford Shale natural gas midstream assets to a newly-formed affiliate of ArcLight Capital Partners LLC for gross cash proceeds of $100 million.
The Arkoma Connector pipeline, a joint venture of MarkWest Energy Partners and ArcLight Capital Partners, went into operation in mid-July with little fanfare. But Denver-based MarkWest plans to put the focus on its new pipeline during its earnings conference Tuesday. Asked if Arkoma Connector was running at full capacity yet, MarkWest Treasurer Dan Campbell said, “We haven’t disclosed that,” but noted that the company would talk more about the pipeline’s operations at the earnings conference. The pipeline extends from the outlet of a treating plant in northeast Oklahoma 50 miles in a southeasterly direction to near Bennington, OK, where it connects with the Midcontinent Express and Gulf Crossing systems. Arkoma Connector, which was approved by the Federal Energy Regulatory Commission in late 2008, has the capability to deliver 625,000 Dth/d out of the Woodford Shale area to the Bennington area (see Daily GPI, Nov. 14, 2008).