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Regency to Acquire Southern Union Gathering in Billion-Dollar Deal
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Regency Energy Partners LP will acquire Southern Union Gathering Company LLC, the owner of Southern Union Gas Services Ltd. (SUGS), from Southern Union Company, a jointly owned affiliate of Energy Transfer Equity L.P. and Energy Transfer Partners L.P.
The $1.5 billion acquisition will significantly expand Regency’s presence in one of the most productive oil and liquids-rich basins in North America, the Permian Basin.
The acquisition is expected to close in the second quarter of 2013, subject to approval under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.
The transaction will include the purchase of a 5,600-mile gathering system and approximately 500 MMcf/d of processing and treating facilities in west Texas and New Mexico for natural gas and…
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