Superior Pipeline Company, L.L.C. (Superior) has announced that it has completed the acquisition of approximately 600 miles of gathering pipeline and compression in central Oklahoma. The effective date of the acquisition is 1 December 2019. The acquired assets will complement existing Superior infrastructure, and the gas volumes associated with the acquisition will be processed by the existing Superior processing facilities.
These assets will allow for greater operational flexibility and efficiency between Superior’s gathering and gas processing facilities in the area. The volume on this gathering system and its associated third-party contracts will expand the Superior customer base, allowing Superior to serve a wider group of producers.
Mike Hicks, Superior’s Chief Operating Officer, said: “This acquisition is the first step in the Superior plan to grow its midstream business through the acquisition and consolidation of synergistic midstream assets.”
Superior is a joint venture owned 50% by Unit Corporation and 50% by SP Investor Holdings, LLC, a holding company jointly owned by OPTrust and funds managed and/or advised by Partners Group, a global private markets investment manager.
Read the article online at: https://www.worldpipelines.com/business-news/07012020/superior-pipeline-acquires-gathering-and-compression-assets/