Anadarko to sell some midstream assets to Western Gas for $483 mn
16 Dec 2011
Anadarko Petroleum Corp today agreed to sell some midstream assets to its affiliate Western Gas Partners, LP for $483 million.
The sale comes after Anadarko sold its Bison gas treating facility and related assets located in the Powder River Basin to Western Gas for $130 million in July.
Western Gas, set up by Anadarko to develop midstream energy assets, will buy Anadarko's interest in the Red Desert Complex and related assets, primarily located in the greater Green River Basin of southwestern Wyoming.
Under the terms of the deal, Western Gas will buy Anadarko's fully owned Mountain Gas Resources (MGR), which owns the Red Desert Complex, a 22-per cent interest in Rendezvous Gas Services, and related facilities.
Red Desert, which represents over 90 per cent of MGR's cash flow, includes the Patrick Draw processing plant with a capacity of 125 MMcf/d, the Red Desert processing plant with a capacity of 48 MMcf/d, 1,295 miles of gathering lines, and related facilities.
Rendezvous owns a 338-mile mainline gathering system serving the Jonah and Pinedale Anticline fields in southwestern Wyoming.
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