ETP to Snap Up Natural Gas Assets in Haynesville Shale
Dallas-based Energy Transfer Partners has signed an agreement to purchase certain natural gas gathering and treating assets in the Haynesville Shale from Tristate Midstream, L.P., a portfolio company of Dallas-based Energy Spectrum. Energy Transfer is acquiring Tristate North Louisiana Midstream, LLC and TSM Treating, LLC, which collectively own a 120-mile gathering system in Red River and Bienville Parishes with a capacity of 275 million cubic feet per day, and natural gas treating facilities with approximately 480 million cubic feet per day of treating capacity.
"We are pleased to be expanding our gathering and treating assets in the Haynesville Shale producing region," said ETP's Mac Stallcup, Vice President - Louisiana Business Development. "These Tristate assets, which include significant long-term acreage dedications, are not only strategically located, but further compliment our emerging presence in the area. Through this acquisition, we have increased acreage dedicated to us under long-term gathering agreements in the Haynesville Shale to more than 100,000 acres."
The gathering network will tie to several interstate and intrastate pipelines including Energy Transfer's planned Tiger Pipeline. Tiger Pipeline, expected to be in service in the first half of 2011, is under development and consists of an approximately 180-mile, 42-inch natural gas pipeline that will serve the Haynesville Shale producing region in Louisiana and the Carthage Hub area in East Texas.
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