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Forest Oil Announces Agreement to Sell East Texas Natural Gas Gathering Assets
Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced that it has entered into an agreement to sell the majority of its East Texas natural gas gathering assets to a subsidiary of Tristate Midstream II, LLC for proceeds of $34 million. Forest can also earn up to $9 million of additional performance payments contingent on future activity. In conjunction with the sale, Forest has entered into a ten-year natural gas gathering agreement with the buyer under which Forest will commit its production from its existing and future operated wells located within five miles of the current configuration of the gathering system. The transaction is expected to close on October 31, 2012 and is subject to customary closing conditions and purchase price adjustments.

date.png15 Aug 2012 18:39 | comments.png 0 Comments | tags.png forest n-america piepline usa [ More ]

DCP Midstream Partners to Expand East Texas Natural Gas Processing Business Through Acquisition of Crossroads Processing Plant
DCP Midstream Partners, LP (NYSE: DPM) or the “Partnership” announced today that it has entered into an agreement with Penn Virginia Resource Partners, L.P. (“PVR”) to acquire the Crossroads processing plant and associated gathering system, for approximately $63 million. The Crossroads system, located in the southeastern portion of Harrison county in East Texas, includes approximately 8 miles of gas gathering pipe, an 80 million cubic feet per day cryogenic processing plant, approximately 20 miles of NGL pipeline and a 50% ownership in an approximately 11-mile residue gas pipeline. This system will allow the Partnership to increase critical midstream services to producers that are expanding their liquids rich Haynesville shale and Cotton Valley drilling programs in East Texas.

date.png19 Jun 2012 07:48 | comments.png 0 Comments | tags.png dcp-midstream n-america piepline usa [ More ]

Shell sells stake in gas transport system to Infragas Norge AS
A/S Norske Shell (“Shell”) has entered into a binding agreement to sell its interests in natural gas transport infrastructure joint venture Gassled to Infragas Norge AS for NOK 3,925 million (USD 730 million at current exchange rate).

date.png02 Sep 2011 08:13 | comments.png 0 Comments | tags.png gas norway piepline shell [ More ]
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