El Paso sells Javelina midstream interests

By OGJ editors
HOUSTON, Sept. 29 -- El Paso Corp., Houston, has agreed to sell its Javelina midstream interests to MarkWest Energy Partners LP for $142 million. The sale includes El Paso's 40% interest in the Javelina gas processing and fractionation facility and associated gas pipelines at Corpus Christi, Tex.

With the recently announced sale of South Louisiana processing plants—expected to close shortly—this transaction will conclude the sale of El Paso's midstream assets.

El Paso plans to reduce its debt, net of cash, to $15 billion by yearend. Since Mar. 17, the company has announced or closed $1.4 billion of its targeted $1.2-1.6 billion of asset sales.

Related Articles

Finance/Companies news briefs, Oct. 9

10/09/2000 Credo Petroleum � Texaco � EDG � Air Products & Chemicals � Celanese � Paradigm Geophysical � TotalFinaElf � Oceaneering International � Global Ind...

El Paso bids power, gas into California market

02/05/2001 El Paso Corp. has submitted long-term bids for gas and power under the new California law permitting the state to buy electricity directly bypassin...

COMPANY NEWS: Phillips to acquire Tosco in multibillion-dollar deal

02/12/2001 The most recent wave of mergers and acquisitions shows that the oil and gas industry continues to reshape itself.

Electric Power news briefs, Feb. 13

02/13/2001 Calpine Corp. ... Reliant Energy Services Inc. ... El Paso Corp. ... Cinergy Solutions Inc. ... BP ... PECO Energy ... AES Southland LLC ... Mirant...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected