Western Gas buys Anadarko gathering system
Western Gas Partners LP acquired a natural gas gathering system and other midstream assets in southwest Wyoming from Anadarko Petroleum Corp. for $254.4 million.
By OGJ editors
HOUSTON, Feb. 9 -- Western Gas Partners LP acquired a natural gas gathering system and other midstream assets in southwest Wyoming from Anadarko Petroleum Corp. for $254.4 million.
Don Sinclair, Western Gas Partners president and chief executive officer, said the assets have significant potential by serving Moxa, Pinedale, and Jonah fields. The acquisition closed on Jan. 29 with an effective date of Jan. 1.
Western Gas purchased Anadarko’s 100% ownership interest in the Granger gathering system and the Granger plants, which involve two cryogenic trains with combined capacity of 200 MMcfd, two refrigeration trains with capacity of 145 MMcfd, an NGL fractionation facility with capacity of 9,500 b/d, and associated equipment.
The average throughput on these systems for the fourth quarter of 2009 was 240 MMcfd. Anadarko’s throughput represented nearly half of this amount.
Anadarko’s throughput recently was converted into 10-year, fee-based arrangements. To mitigate the remaining gas price risk associated with the acquisition, Western Gas and Anadarko agreed to fixed-price commodity swaps through yearend 2014.