By the OGJ Online Staff
HOUSTON, May 29 -- ATCO Midstream Ltd., a unit of the ATCO Group, Calgary, has acquired a gas gathering and processing plant from Fortune Energy Inc. and Devlan Exploration Inc. for an undisclosed sum.
The recently-built plant, 25 km west of Slave Lake, Alta., can process 7 MMcfd of sweet gas. The purchase includes a 36-km pipeline linked to a larger transportation system at Mitsue.
ATCO said it expects the plant to act as a catalyst for gas exploration and development in the region, which was previously limited by the lack of gathering and processing.
ATCO Midstream recently announced a joint venture agreement with BP Canada Energy Co. to develop their Cranberry and Chinchaga gas gathering systems and plants in the Manning area of northern Alberta (OGJ Online, May 18, 2001).
The company also earlier this month closed the purchase of Wolcott Gas Processing Ltd., which included a 12% working interest and full operation of the Empress Gas Liquids Joint Venture Straddle plant near Empress, Alta. (OGJ Online, Mar. 19, 2001).
