By OGJ editors
HOUSTON, Apr. 4 -- Regency Energy Partners LP has acquired Pueblo Midstream Gas Corp., a wholly owned subsidiary of Bear Cub Investments LLC., for $55 million in cash and stock.
Regency will pay $35 million in cash and issue 750,000 Regency common units.
Pueblo's primary assets include the Fashing plant and related gathering system in Atascosa and Karnes counties in Texas.
The Fashing system is comprised of a 75 MMcfd gas processing and treating facility, 33 miles of gathering pipelines, and about 6,000 hp of compression. The facility includes amine treating, dehydration and sulfur recovery units, and a refrigerated lean-oil gas processing plant in South Texas.
Regency has plans to build a 20-mile pipeline to connect the Fashing plant to its Tilden plant in South Texas.