Capital Markets | Midstream - Gas Gathering | Contract Awarded | Partnerships | Private Equity Activity
Chesapeake Taps Williams, Crestwood for Powder River Midstream Services
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Williams Partners and Crestwood Equity Partners, as 50/50 joint venture partners in the Bucking Horse natural gas processing plant and Jackalope Gas Gathering System, have signed an agreement with Chesapeake Energy to restructure natural gas gathering and processing services in Wyoming's Powder River Basin.
The restructured services are expected to replace the current cost-of-service arrangement and improve economics to support a ramp-up in near-term development and production activity and incentivize long-term development across an expanded area of dedication in the region.
The restructured terms of service are expected to include minimum annual revenue guarantees that support the transition to a new fixed-fee structure over the next five to seven years.
The Bucking Horse plant has the…
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