Sid Richardson Gasoline Co., Fort Worth, has purchased Koch Industries Inc.'s natural gas gathering and processing assets in nine West Texas counties effective last Jan. 1.
The price was not disclosed. The facilities total nearly 1,000 miles of predominantly large-diameter gathering line and more than 180 MMcfd of processing capacity combined with 530 MMcfd of treating capacity.
The purchases were made from Koch subsidiaries Koch Midstream Services Co. LLC and Koch Midstream Services Co. LP. Those firms will continue to own and operate gas processing, treating, and gathering facilities in East Texas.
The sold properties were in Loving, Reeves, Ward, Crane, Upton, Pecos, Crockett, Reagan, and Terrell counties.
Richardson said the acquisition enables it to expand its operations in the Permian basin. In December 1998 the company bought KN Energy Co. facilities in the basin, followed by a June 1999 purchase of Western Gas Resources Co. assets.
Richardson said prior to the latest purchase, it had plants totaling 450 MMcfd of processing capacity and 1 bfcd of treating capacity, both fed by a gathering system of nearly 4,000 miles across 16 counties in the basin.
