Natural Gas Pipeline

March 17, 2017 Comments Off on Enterprise Wins Azure Assets Auction Views: 149 Houston-Galveston, Texas News

Enterprise Wins Azure Assets Auction

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Enterprise Products Partnership LP of Houston won an auction for a natural gas gathering and processing system from Dallas-based Azure Midstream Partners LP. Enterprise paid $189 million to acquire the system at a bankruptcy auction, and it includes 960 miles of natural gas gathering pipelines, three processing facilities and two natural gas liquid pipelines. The assets operate on production from the Haynesville Shale.

Azure filed bankruptcy in January 2017, reporting $179 million in debts. The company had been formed two years ago, when Azure Midstream LLC merged with Marlin Midstream Partners LP.

Enterprise has announced plans to build a new gas unit in Mont Belvieu, TX, and also said it would expand the capacity of its major crude pipeline in the Permian Basin by 50%.

Read More at Houston Business Journal

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