Enterprise Products Partners L.P. has announced that one of its affiliates has closed on its purchase of the midstream business and assets of Azure Midstream Partners, L.P. and its operating subsidiaries in East Texas and North Louisiana.
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Enterprise Products Partners L.P. is a North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.
As previously reported, the acquisition came as a result of Azure’s bankruptcy auction proceedings, which Enterprise won with a bid of US$189 million. The United States Bankruptcy Court for the Southern District of Texas entered an order approving the sale by Azure to Enterprise’s affiliate on 15 March 2017.
The acquired assets include over 960 miles of natural gas gathering pipelines, three natural gas processing facilities with an aggregate capacity of approximately 210 million ft3/d and two 10 000 bpd NGL pipelines. The system serves production from the Haynesville shale, Bossier, Cotton Valley and Travis Peak formations.
Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/02052017/enterprise-acquires-azure-system/