Crestwood Midstream Partners LP has agreed to acquire Tristate Sabine LLC from affiliates of Energy Spectrum Capital, Zwolle Pipeline LLC and Tristate management for $65 million in cash at closing plus a deferred payment of $8 million one year later. The entities to be acquired own and operate 52 miles of gas gathering pipelines in Sabine Parish, LA, known as the Tristate System, which serves Haynesville and Bossier shale production from the Toledo Bend South field area for delivery to Gulf South Pipeline and Tennessee Gas Pipeline. Contracts dedicate about 20,000 acres under long-term, fixed-fee arrangements, and capacity is being expanded to 100 MMcf/d for gathering and 80 MMcf/d for treating. The acquisition is expected to close on Nov. 1 and will be financed with borrowings under Crestwood’s credit facility.
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Articles from Pennsylvania
North Carolina Holds First Public Hearing on Fracking
The North Carolina Department of Environment and Natural Resources (DENR) held the first of three public hearings on hydraulic fracturing (fracking) Monday evening at the McSwain Extension Education & Agriculture Center in Sanford, NC.
Shale Gas Faces ‘Intense’ Fight for Markets
Don’t expect the energy pie to get bigger, John Hanger, the former head of the Pennsylvania Department of Environmental Protection (DEP), told a Pittsburgh audience last Thursday.
Hanger: Shale Gas Faces ‘Intense Competition’
Don’t expect the energy pie to get bigger, John Hanger, the former head of the Pennsylvania Department of Environmental Protection (DEP), told a Pittsburgh audience Thursday.
PA Township Fracking Ban Question Cleared for Ballot Inclusion
A Pennsylvania judge has denied a request from a wealthy Pittsburgh suburb, apparently clearing the way for a controversial referendum that would ban hydraulic fracturing (fracking) to be placed on the Nov. 8 ballot, according to Peters Township Marcellus Shale Awareness (PTMSA), an environmental group that drafted the proposed referendum.
Noble, CONSOL Finalize Marcellus JV
Noble Energy Inc. and CONSOL Energy Inc. have clinched their joint venture agreement to develop a swath of Marcellus Shale properties in southwest Pennsylvania and northwest West Virginia, the companies said Monday.
Poll: Pennsylvanians Support Drilling But Want It Taxed
A new poll reveals that while most Pennsylvania voters, 62-30%, believe the economic benefits of drilling for natural gas in the Marcellus Shale outweigh any environmental concerns, a majority, 64-27%, also want to see the industry taxed.
Pennsylvania Township Could Be Sued Over Proposed Fracking Ban
A Pennsylvania judge said he would try to render a decision by Friday (Oct. 7) over whether a controversial referendum banning hydraulic fracturing (fracking) should be placed on the November ballot in Peters Township.
Antero Pays $193M to Increase Marcellus Leasehold
Antero Resources has acquired from CONSOL Energy a 7% overriding royalty interest in approximately 115,647 net acres in the Marcellus Shale in southwestern Pennsylvania and north central West Virginia for $193 million, the companies said Monday. The deal closed Sept. 21 with an effective date of July 1, 2011.
New York Voters Support Gas Drilling by Thin Margin
Voters in New York still support natural gas drilling in the Marcellus Shale by a thin margin, 45-41%, because they believe the economic benefits outweigh environmental concerns, according to the latest Quinnipiac University poll.
