Detroit-based wellhead-to-market array of providers supplier DT Midstream, Inc. has accomplished the acquisition of a portfolio of three Federal Power Regulatory Fee-regulated pure fuel transmission pipelines from ONEOK, Inc.
The corporate mentioned in a media launch that the acquisition is efficient as of 11:59 p.m. CT on December 31, 2024. The whole invoice for the acquisition landed at $1.2 billion, it mentioned.
“The bolt-on acquisition of those premier pipelines is totally aligned with our pure play pure fuel technique”, mentioned David Slater, DT Midstream President, and CEO. “This acquisition additionally will increase the income contribution from our pipeline section, supported by take-or-pay contracts with sturdy credit score high quality utility clients”.
- Advertisement -
DT Midstream has acquired one hundred pc working possession in Guardian Pipeline, Midwestern Fuel Transmission, and Viking Fuel Transmission. The acquired pipelines have a complete capability of greater than 3.7 billion cubic toes per day with roughly 1,300 miles throughout seven states within the enticing Midwest market area.
“We’re joyful to have on board the staff members that assist these belongings, each in discipline operations and in DT Midstream’s new Tulsa workplace”, added Slater.
DT Midstream added that Guardian Pipeline, L.L.C. is an roughly 260-mile interstate pipeline that’s interconnected to its Vector Pipeline, the Chicago Hub, and serves key Wisconsin demand facilities.
Midwestern Fuel Transmission is an interstate pipeline that stretches about 400 miles and operates in each instructions, linking Appalachian provide to the Midwest market space from Tennessee to the Chicago Hub. This pipeline is related to the Guardian Pipeline, DT Midstream mentioned. Viking Fuel Transmission is an roughly 675-mile interstate pipeline that connects key utility clients in Minnesota, Wisconsin, and North Dakota to Canadian provide at Emerson, Manitoba, DT Midstream added.
Initially of December, DT Midstream secured $650 million by personal senior secured notes providing, to partially fund the acquisition.
To contact the creator, e-mail andreson.n.paul@gmail.com
What do you suppose? We’d love to listen to from you, be a part of the dialog on the
Rigzone Power Community.
The Rigzone Power Community is a brand new social expertise created for you and all power professionals to Communicate Up about our business, share information, join with friends and business insiders and interact in an expert neighborhood that may empower your profession in power.
