Williams Partners LP has agreed to acquire the Laser Northeast Gathering System and other midstream businesses from Delphi Midstream Partners LLC for about $750 million. Laser is composed of 33 miles of 16-inch diameter gas pipeline and associated gathering facilities in Susquehanna County, PA, as well as 10 miles of gathering pipeline in southern New York. The acquisition is supported by existing long-term gathering agreements that provide acreage dedications and volume commitments. As production in the Marcellus Shale increases, the Laser system is expected to reach a capacity of 1.3 Bcf/d, said Williams Partners, which plans to fund the purchase with $300 million in cash and 7.5 million common units. The deal, which the partnership said it earlier was pursuing (see Shale Daily, Dec. 5), is subject to customary regulatory approvals.
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Articles from Delphi
Shell Canada Hunts for Partner to Develop Canada’s Deep Basin
Shell Canada Ltd. is looking for a partner to help develop its gassy Chinook leasehold, 102,000 acres in the Nikanassin Formation, a shale play in the Deep Basin of Western Canada.
Laser Northeast Begins Construction of Susquehanna Gathering System
Laser Northeast Gathering Co. LLC has started construction on its gathering and transportation pipeline in Susquehanna County, PA, and expects the project to bring substantial investment and jobs to northeastern Pennsylvania, CEO Thomas F. Karam said at a groundbreaking ceremony in New Milford, PA, Tuesday.
ALJ: Pennsylvania Gathering Project Not a Utility
The Pennsylvania Public Utilities Commission (PUC) should deny an application from Laser Northeast Gathering Co. LLC to be deemed a public utility with the ability to exercise the right of public domain for its proposed gathering and transportation pipeline in Susquehanna County, PA, according to an administrative law judge’s (ALJ) recommendation to the PUC.
Midstream Investor, Carrizo Strike Barnett, Marcellus Deals
Delphi Midstream Partners LLC (DMP), an energy investment firm formed less than two months ago, on Monday struck a deal to buy one of Carrizo Oil & Gas Inc.’s Barnett Shale natural gas gathering systems and to invest in the producer’s Marcellus Shale infrastructure.
