UGI Corp. subsidiary UGI Energy Services LLC (UGIES) has agreed to acquire Stonehenge Appalachia LLC from Stonehenge Energy Holdings LLC for about $190 million.
The Stonehenge natural gas system, in Butler County Pennsylvania, includes more than 47 miles of pipeline and associated compression assets, and has gathering capacity of 130 MMcfd.
Also in the Appalachian basin, UGI acquired the assets of Columbia Midstream Group in 2019 and purchased an ownership stake in the Pine Run gathering system in 2021 (OGJ Online, July 3, 2019; Feb. 16, 2021).
The transaction is subject to customary regulatory and other closing conditions. Assuming fulfillment of all conditions, the transaction is expected to close by Jan. 31, 2022.