Williams Partners will acquire Cabot Oil & Gas Corporation’s midstream assets in Susquehanna County, Pennsylvania, US, for $150m, which will increase its presence in the Marcellus Shale.
The Cabot assets include 75 miles of gathering pipelines and two compressor stations.
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The combined gathering system will deliver about 1.2 billion cubic feet per day of natural gas over the next three years.
The new system will connect with Williams Partners’ proposed Springville gathering pipeline in Susquehanna County, expanding the existing system and adding more delivery points.
Williams has also signed a 25-year gathering agreement with Cabot for its production in the north-east Pennsylvania area of the Marcellus Shale.
The company has also invested over $150m to fund the 2011 construction phase of additional gathering assets, which will augment the acquired assets.
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By GlobalData
