Black Bear Transmission LLC, (Black Bear) has announced that it has completed the divestiture of gas gathering assets owned by BBT Alabama, LLC (BBT AL) to an undisclosed buyer.
This divestiture follows Black Bear’s most recent acquisition – the purchase of the NGT Assets from Third Coast Midstream in September 2020.
BBT AL owns and operates a fee-based, natural gas gathering system that connects production in Alabama to regional long-haul pipelines. The asset sale consists of more than 240 miles of natural gas pipelines, 26 active metered locations, and 1 active compressor station.
“We are excited to complete this transaction,” said Rene Casadaban, Chief Executive Officer of Black Bear. “The sale of these assets allows us to continue our main focus on the transmission business, which serves long-term, demand-driven end-user markets, while continuing to provide safe and reliable service.”
“This sale is another example of the team’s ability to quickly execute on the strategic rationalisation of acquired assets,” added Scott Langston, Senior Vice President and Chief Commercial Officer for Black Bear. “Similar to the Ozark Gas Gathering sale, this deal allows us to achieve operational cost savings while at the same time directing more internal resources towards our core natural gas transmission infrastructure. We appreciate all of the hard work from everybody involved to complete this sale.”
The terms of the transaction are not being disclosed.
Read the latest issue of World Pipelines magazine for pipeline news, project stories, industry insight and technical articles.
The March 2021 issue of World Pipelines includes: a regional report on pipeline projects in Asia-Pacific; a summary of the latest and best construction equipment courtesy of the annual Heavy Equipment Review; a welding-focused Q&A; and technical articles on hot tapping, sustainable steel and decommissioning.
Read the article online at: https://www.worldpipelines.com/business-news/08032021/black-bear-transmission-sells-alabama-gas-gathering-assets/
You might also like
Norwegian offshore services provider, DOF, secures US$260 million service contracts from Brazil's Petrobras.