Voyager Midstream Holdings LLC has accomplished the acquisition of a non-operating stake in a Texas pure fuel liquid (NGL) pipeline from Phillips 66.
The 254-mile Panola Pipeline, operated by Enterprise Merchandise Companions LP, transports Y-Grade NGLs from Panola County to fractionation amenities in Mont Belvieu metropolis.
“Voyager’s curiosity within the Panola Pipeline is a strategic match with the corporate’s present footprint in East Texas and North Louisiana”, Houston, Texas-based Voyager mentioned in an internet assertion, referring to property additionally acquired from Phillips 66.
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Voyager chief govt Will Harvey commented, “Panola Pipeline is a vital NGL pipeline connecting the main East Texas fuel processing complexes and Gulf Coast demand markets”.
“We’re excited to work alongside our companions in Panola Pipeline to securely transport liquids to fulfill rising demand for NGLs alongside the Gulf Coast”, Harvey added.
Voyager didn’t disclose the monetary particulars of the transaction.
It mentioned that together with the acquisition, it has entered right into a credit score facility with the Financial institution of Oklahoma. “This credit score facility, together with present fairness commitments from Pearl, offers Voyager with substantial flexibility and capital to proceed rising its enterprise in assist of its clients”, it mentioned.
Pearl Power Investments launched Voyager in 2023 as a platform for the acquisition and improvement of crude oil, pure fuel and produced water infrastructure throughout key basins in North America.
Voyager operates about 550 miles of pure fuel pipelines and related compression. It additionally has 400 million cubic toes a day of cryogenic fuel processing capability and 12,000 barrels per day of liquid fractionation capability.
It additionally operates Carthage Hub, a fuel buying and selling and supply hub able to dealing with over 1 billion cubic toes per day. Carthage Hub interconnects a number of markets throughout the US together with LNG markets in Texas and Louisiana.
All of those had been acquired from Phillips 66 within the fourth quarter of 2024.
“Situated in Panola, Rusk and Harrison counties in Texas and Caddo parish in Louisiana, this acquisition positions Voyager within the core of the prolific Haynesville Shale”, Voyager mentioned September 3.
Phillips 66 has exceeded a divestment plan concentrating on $3 billion of asset monetization. The divestment plan aimed to assist its shareholder return goal and different long-term priorities whereas focusing funding on low-cost however high-return initiatives.
“We intend to proceed to optimize the portfolio and rationalize non-core property going ahead”, chief govt Mark Lashier mentioned December 16 in an organization assertion saying the divestment of Phillips 66’s Gulf Coast Categorical Pipeline stake. “The evolution of our portfolio underscores our place as a number one built-in downstream power supplier, enhancing shareholder worth and positioning the corporate for the longer term”.
To contact the creator, e mail jov.onsat@rigzone.com
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