Eagle Rock Energy Partners will acquire natural gas gathering systems in the counties of Wheeler and Hemphill, Texas, US, from Centerpoint Energy Field Services.
The assets, in the Texas Panhandle, include over 200 miles of gathering pipeline and related compression and dehydration facilities, gas gathering contracts and rights of way.
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The assets are located in the core of the highly active and prolific Granite Wash play and are complementary to Eagle Rock’s East Panhandle system.
The acquisition will provide about 18,600MMBtu per day of existing gathered volumes generating mostly fixed-fee revenues.
Eagle Rock will be able to provide processing services to existing and future producers on the acquired system through interconnections into Eagle Rock’s East Panhandle system.
The transaction will be closed by 15 October 2010 for $27.5m.
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By GlobalData
