Capital Markets | Private Equity Activity
Summit, Aux Sable Ink Bakken-Focused Gas Purchasing Deal
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Aux Sable Midstream LLC and Summit Midstream Partners LP have reported the execution of a new, long-term gas purchase agreement for liquids rich natural gas gathered on SMLP's Bison gathering system.
The rich natural gas will be conditioned at ASM's Palermo Plant and then transported via ASM's Prairie Rose Pipeline and the Alliance Pipeline for processing at Aux Sable Liquid Products LP's (ASLP) Channahon, Illinois 2,100 million cubic feet per day (mmcfd) natural gas liquids extraction and fractionation facility.
Under the agreement, SMLP will dedicate gas gathered from their Bison gathering system in Burke and Mountrail counties to ASM up to 25 mmcfd with options to increase volumes as they develop.
W. J. (Bill) McAdam, President and Chief Executive Officer of Aux Sable, commented: "We…
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