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.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- McDermott Settles Reficar Dispute
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea