Kinder Morgan Energy Partners has entered into a definitive agreement to pay about $855m to Petrohawk Energy Corporation for Petrohawk’s 50% interest in KinderHawk Field Services.
The company will assume $65m in debt for the stake sale and will also acquire a 25% interest in Petrohawk’s natural gas gathering and treating business in the Eagle Ford Shale in the US.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
KMP will invest about $220m to build a new crude/condensate pipeline with a capacity of about 300,000 barrels per day, which will be in service by next year.
The pipeline will initially transport 50,000 barrels per day of condensate for Petrohawk from its production area in Eagle Ford to the Houston Ship Channel.
KMP and Petrohawk will form a joint venture to own two midstream gathering systems in and around Petrohawk’s Hawkville and Black Hawk fields in the Eagle Ford Shale.
The joint venture will consist of more than 280 miles of gas gathering pipelines and approximately 112 miles of condensate gathering lines.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
