William Cos. Inc., Tulsa, closed on the sale of certain pipeline systems in the Gulf Coast area to Easton Energy LLC, Houston, for $177 million in cash.
Included in the sale are the 31-mile Texas Belle Pipeline, which transports natural gas liquids from Mont Belvieu to along the Houston Ship Channel; the Purity pipeline system; certain assets in the Live Oak pipeline system; and additional idle pipelines along the Gulf Coast. In total, the deal includes about 416 miles of Gulf Coast NGL pipelines, Easton said.
“Paired with our salt cavern storage development at Markham, Tex., this acquisition represents an opportunity for Easton to utilize a significant footprint of pipelines to connect key NGL storage markets with end users along the Texas Gulf Coast,” said Eastern Energy Pres. Joel McComas.
Williams’ Atlantic-Gulf business segment still includes 506 miles of purity product pipelines.