El Paso Energy Partners to Buy Midstream Assets for $284M

El Paso Energy Partners L.P. (EPN) announced Wednesday that it has executed a letter of intent to purchase the Chaco cryogenic natural gas processing plant in northern New Mexico’s San Juan Basin, entered into a 20-year, fixed-rate tolling agreement to process gas for El Paso Field Services, and has agreed to buy El Paso Corp.’s 50% interest in a joint venture that owns gas pipeline and gathering systems in the Gulf of Mexico. The value of the transactions was estimated at $284 million.

October 4, 2001
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