Voyager Midstream Holdings LLC has acquired Haynesville Shale pure gasoline gathering and processing belongings from Phillips 66.
The acquisition positions Voyager within the core of the shale space, with the belongings positioned in Panola, Rusk and Harrison counties in Texas and Caddo parish in Louisiana, the corporate stated in a information launch. The monetary particulars of the acquisition weren’t disclosed.
The acquisition contains roughly 550 miles of pure gasoline pipelines and related compression, 400 million cubic ft per day of lively cryogenic gasoline processing capability, and 12,000 barrels per day of liquids fractionation capability, based on the discharge.
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The acquisition additionally contains the Carthage Hub, an built-in pure gasoline buying and selling and supply hub able to dealing with over one billion cubic ft per day. The Carthage Hub offers interconnectivity to a number of markets throughout the USA, together with entry to premium liquefied pure gasoline (LNG) markets in Texas and Louisiana, Voyager famous.
“This transaction with Phillips 66 represents an vital milestone for Voyager, because it positions us for vital development within the core of the Haynesville Shale,” Voyager CEO Will Harvey stated. “We’re dedicated to rising our infrastructure footprint in East Texas and North Louisiana and bettering producer connectivity and netbacks”.
“As an organization, Voyager is dedicated to security, environmental stewardship, and giving again to the communities the place we work and stay. We’re honored to welcome Phillips 66’s East Texas workers into the Voyager household as a part of this acquisition,” Voyager COO Martin McHale stated.
Houston-based Voyager is a portfolio firm of Pearl Vitality Investments, a Dallas, Texas-based funding agency with roughly $2.0 billion of dedicated capital below administration. Pearl focuses on partnering with confirmed administration groups to spend money on the North American power sector, based on the discharge.
“Voyager’s acquisition of those high-quality belongings positions the corporate for development and success throughout the Haynesville, one of many preeminent shale performs with strategic connectivity to the U.S. Gulf Coast,” Stewart Coleman, Associate at Pearl Vitality Investments, stated. “We look ahead to supporting the Voyager crew as they proceed to securely function, develop and additional commercialize this essential infrastructure”.
Voyager Midstream Holdings was based in 2023 and is targeted on midstream acquisition and improvement alternatives throughout North America.
In June, built-in downstream firm Phillips 66 introduced the divestment of its 25 % non-operated widespread fairness curiosity in Rockies Categorical Pipeline LLC (REX) to a subsidiary of Tallgrass Vitality LP (TGE) for an enterprise worth of roughly $1.275 billion.
TGE is the operator of REX and can personal 100% of the widespread fairness curiosity in REX following the transaction, Phillips 66 stated in an earlier information launch. The transaction generates pre-tax money proceeds of $685 million for Phillips 66 after changes for Phillips 66’s allocation of REX’s debt and most well-liked fairness balances. The anticipated proceeds will help Phillips 66’s strategic priorities, together with returns to shareholders.
REX, a 1,714-mile pipeline system, is among the largest pure gasoline pipelines within the USA and offers over 5 billion cubic ft per day of bi-directional pure gasoline transportation service between the Rockies, Appalachia and the northeastern United States, based on the discharge.
The pure gasoline pipeline system spans from Rio Blanco County, Colorado, to Monroe County, Ohio. REX turned absolutely operational in November 2009 with a capability of 1.8 billion cubic ft per day. REX gives agency and interruptible transportation providers in addition to pooling, wheeling and a park and mortgage service, based on the TGE web site. Tallgrass NatGas Operator, LLC operates Rockies Categorical.
To contact the creator, electronic mail rocky.teodoro@rigzone.com
