Private Equity | Deals - Acquisition, Mergers, Divestitures | Capital Markets
Pin Oak Midstream Acquires Laurel Mountain Midstream, Price Undisclosed.
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Pin Oak Midstream , a subsidiary of Pin Oak Energy Partners LLC, announces the closing of a transaction with Laurel Mountain Midstream LLC , a joint venture between Williams Laurel Mountain, LLC and Chevron Northeast Upstream LLC, to acquire LMM’s Jackson Center assets.
The assets includes
- 1,050 miles of natural gas gathering pipelines
- five (5) gathering compressor stations
- gathering capacity of over 50 MMcf/d
- multiple interstate pipeline interconnects (both National Fuel Gas and Tennessee Gas Pipeline) with total interconnect capacities of almost 100 MMcf/d
Brent Breon, President of Pin Oak Midstream LLC and Chief Commercial Officer of Pin Oak Energy Partners LLC, stated, “These assets in Mercer, Lawrence, and Crawford counties of Pennsylvania are a great fit to our expanding footprint and further bolsters the Company’s midstream assets in the oil and wet gas windows of the Utica play in northwestern Pennsylvania. The Jackson Center assets currently gather conventional and unconventional gas from third party operators in the area and will allow Pin Oak Energy to connect and produce Utica wells currently waiting on pipelines. Additionally, Pin Oak remains committed to our ongoing efforts of executing our growth strategy through acquisitions even during these difficult times.”
Pin Oak Midstream’s Appalachian Basin position consists of nearly 1,200 miles of pipeline assets; 13 interstate pipeline interconnections; gathering, processing and transportation dedications on more than 150,000 dedicated net deep acres (Marcellus and Utica) and current flowing volumes more than 15 MMcf/d.
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