Crosstex

Crosstex Energy LP plans to build a natural gas processing complex and rich gas gathering system to serve the Permian Basin. The initial investment of $140 million would include treating, processing and gas takeaway solutions for regional producers. The Bearkat project is to be fully owned by the partnership and is supported by long-term, fee-based contracts, Crosstex said. The complex would be near the partnership’s existing Deadwood joint venture assets in Glasscock County, TX, with an initial capacity of 60 MMcf/d, increasing the partnership’s total operated processing capacity in the Permian to 115 MMcf/d. The partnership also is building a 30-mile high-pressure gathering system upstream of Bearkat to serve Glasscock and Reagan counties. The entire project is scheduled to be operational in summer 2014.

Devon Energy Corp. has agreed to throw in an estimated $4.8 billion of U.S. midstream assets in Texas and Oklahoma and 800,000 net acres to form a partnership with Crosstex Energy Inc.’s assets in the Marcellus, Utica, Barnett, Eagle Ford and Haynesville shales, Permian Basin and the Gulf Coast, to create a fee-based service that initially would extend 7,300 miles and offer 3.3 Bcf/d net capacity.

Enterprise Products Partners LP, Enbridge Energy Partners LP and Anadarko Petroleum Corp. are partnering on a new natural gas liquids (NGL) pipeline from Skellytown, TX in Carson County to NGL fractionation and storage facilities in Mont Belvieu, TX. The new system would benefit takeaway capacity from the Barnett Shale as well as from other plays.

Howard Energy Partners (HEP) announced it has acquired Texas Pipeline LLC and Bottom Line Services LLC for $76 million. Two firms — Crosstex Energy LP and Quanta Services Inc. — each provided $35 million in initial funding in exchange for about a 35% share of San Antonio-based HEP. Texas Pipeline operates 250 miles of gathering lines in the Eagle Ford and Pearsall shale plays. Bottom Line has built more than 500 miles of pipeline and installed more than 50 midstream facilities in the Eagle Ford.

EXCO Resources Inc. plans to add to its Marcellus Shale portfolio under a $459.4 million agreement with Chief Oil & Gas LLC.

In addition to the sale of some of Transcontinental Gas Pipe Line’s gas transportation assets in Texas to Crosstex earlier this week (see related story), Williams also has agreed to sell three straddle plants in Western Canada to Inter Pipeline Fund of Calgary for C$715 million (US$540 million).