Dornick

Dynegy Inc. has completed the sale of its Sherman, TX-based gas processing facility to Dornick Hills Midstream Ltd., which is based in Dallas. The transaction resulted in a pre-tax gain for Dynegy of $17 million. The Sherman plant has a processing capacity of 24 MMcf/d, and “represents one of our last significant divestitures of non-core assets,” said CEO Bruce Williamson. “Consistent with our self-restructuring approach and goal of delivering value to investors, this sale was based on a decision to focus on regions and segments of our natural gas liquids business where we have a larger physical presence and greater opportunities for growth,” he said. Dynegy expects to gain $240 million from non-core asset sales this year, said Williamson. The sales have improved the company’s financial profile and reduced Dynegy’s debt, helping it maintain “a strong level of liquidity to support our ongoing natural gas liquids and power generation businesses.”