Enbridge Energy Partners buying $247 million worth of natural gas facilities in Texas

Dec. 4, 2003
Enbridge Energy Partners LP, Houston, has agreed to acquire natural gas gathering and processing assets in North Texas from Cantera Resources Inc., an affiliate of Morgan Stanley Capital Partners, for $247 million.


By OGJ editors
HOUSTON, Dec. 4 -- Enbridge Energy Partners LP, Houston, has agreed to acquire natural gas gathering and processing assets in North Texas from Cantera Resources Inc., an affiliate of Morgan Stanley Capital Partners, for $247 million.

Enbridge Partners anticipates the acquisition will close by Dec. 31, subject to customary closing conditions including regulatory approvals, and the facilities then will be named the North Texas System.

The system primarily serves the Fort Worth basin, including growing production from the Barnett Shale zone. Natural gas throughput on the system currently averages 170 MMcfd. Facilities include more than 2,000 miles of gas gathering pipeline and five active processing plants with aggregate processing capacity of 217 MMcfd.