Western Gas Partners will acquire the Bison gas treating facility and all related assets in the Powder River Basin from Anadarko Petroleum Corporation for $130m.
Western Gas will acquire a 100% ownership interest in the Bison Assets, which are located in north-east Wyoming, US, along with a combined CO2 treating capacity of 450MMcf per day.
The firm will finance the acquisition by spending $25m in cash and the issuance of two million common units to Anadarko and 60,210 general partner units to Western Gas Holdings.
Western Gas Partners’ president and CEO Don Sinclair said the transaction will be immediately accretive to distributable cash flow, allowing the firm to further increase its distribution while maintaining a conservative risk profile.
