Enable Midstream Partners has acquired natural gas gathering assets worth $80m from US based supplier Monarch Natural Gas.
Located in the Texas Panhandle in the US, the assets will be immediately accretive to Enable Midstream.
The acquisition expands the portfolio for Enable in the Cleveland Sands Play region.
The assets under consideration are supported by a long-term dedication of 35,000 net acres from a natural gas producer, who is also an Enable Midstream customer at present.
It consists of 88 miles of recently built gathering pipeline along with 5,000 horsepower of associated compression which will offer gathering services to the natural gas producer drilling in Lipscomb and Hemphill Counties. The assets will also support other producers in the area.
Enable Midstream president and CEO Lynn Bourdon said: “This acquisition opens new opportunities for us to grow by extending our midstream services to several producers operating farther west in the Cleveland Sands Play where wells continue to provide attractive returns.”
Based in Houston, Texas in the US, Enable Midstream Partners owns, operates and develops strategically located natural gas and crude oil infrastructure assets across major producing basins and markets.
The partnership operates nearly 12,000 miles of gathering pipelines, 13 major processing plants with around 2.3 billion ft3 of daily processing capacity, approximately 7,900 miles of interstate pipelines (including Southeast Supply Header), about 2,300 miles of intrastate pipelines and eight facilities having 87.5 billion ft3 of storage capacity.
