Harvest Midstream Agrees to Acquire Four Corners Area Assets from Williams Partners, L.P.
Today, Harvest Midstream Company, an affiliate of Hilcorp Energy
Company, announced the acquisition of the Four Corners Area assets from
Williams Partners L.P. for $1.125 billion.
“This is an important investment for Harvest and part of our continued
commitment to the Four Corners region. We believe this will be a
significant economic benefit for the community,” said Jason Rebrook, CEO
of Harvest Midstream Company. “Our focus is on becoming the premier
midstream services provider in the San Juan by reliably serving all of
our customers.”
The system encompasses more than 3,700 miles of pipeline, two gas
processing plants, and one CO2 treating facility in the
counties of San Juan and Rio Arriba, New Mexico and La Plata, Colorado.
It has an inlet gathering capacity of 1.8 billion cubic feet of gas per
day.
“Harvest Midstream is a company committed to customer service and the
safe, efficient and reliable transportation of natural gas and oil,”
said Sean Kolassa, President of Harvest Midstream Company. “We are
excited about the potential for growth in the region and the opportunity
for increased investment into this system in the future.”
The parties to this transaction expect to complete the sale of these
assets within the next few months pending various regulatory approvals.
Harvest Midstream Company:
Harvest Midstream Company, formerly Harvest Pipeline Company, is a
privately held midstream services provider based in Houston, TX. Harvest
operates crude oil and natural gas gathering, storage, transportation,
treatment and terminalling assets across the Lower 48 and Alaska.
To learn more visit www.harvestmidstream.com.
Williams & Williams Partners:
Williams (NYSE: WMB) is a premier provider of large-scale infrastructure
connecting U.S. natural gas and natural gas products to growing demand
for cleaner fuel and feedstocks. Headquartered in Tulsa, Okla., Williams
owns approximately 74 percent of Williams Partners L.P. (NYSE: WPZ).
Williams Partners is an industry-leading, large-cap master limited
partnership with operations across the natural gas value chain including
gathering, processing and interstate transportation of natural gas and
natural gas liquids. With major positions in top U.S. supply basins,
Williams Partners owns and operates more than 33,000 miles of pipelines
system wide – including the nation’s largest volume and fastest growing
pipeline – providing natural gas for clean-power generation, heating and
industrial use. Williams Partners’ operations touch approximately 30
percent of U.S. natural gas. www.williams.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20180730005173/en/
Copyright Business Wire 2018
Source: Business Wire
(July 30, 2018 - 7:00 AM EDT)
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