Harvest Midstream to Purchase Assets from Williams for More than $1B
Harvest Midstream Company, an affiliate of Houston-based Hilcorp Energy Company, is acquiring assets from Williams Partners L.P.’s Four Corners area for about $1.12 billion, the company announced July 30. This announcement comes on the same day that Williams agreed to purchase Discovery Midstream through a joint venture with KKR & Co for $1.2 billion.
Harvest is purchasing the system in the San Juan Basin and it encompasses more than 3,700 miles of pipeline, two gas processing plants and one carbon dioxide treating facility in New Mexico and Colorado. The system has an inlet gathering capacity of 1.8 billion cubic feet of gas per day.
Jason Rebrook, CEO of Harvest Midstream Company, described the acquisition as “an important investment and part of [the company’s] continued commitment to the Four Corners region.”
“We believe this will be a significant economic benefit for the community,” Rebrook said in a release. “Our focus is on becoming the premier midstream services provider in the San Juan by reliably serving all of our customers.”
The acquisition is expected to be completed within the next few months, pending regulatory approval.
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