One-Page Deal Sheet
Crestwood To Acquire Barnett Shale Midstream Assets
Crestwood Midstream Partners Lp Devon Energy Corp
Announced Date
July 23,2012
Close Date
August 27,2012
Transaction Details: Require Private Equity Subscription
Crestwood Midstream Partners announced an agreement to acquire, from certain subsidiaries of Devon Energy Corporation, certain gathering and processing assets in the liquids-rich southwestern area of the Barnett Shale for $90 million.Additionally, Crestwood and Devon have entered into a 20 year fixed-fee gathering, processing and compression agreement under which Crestwood will gather and process Devon’s natural gas production from a 20,500 acre dedication.
Current natural gas production under the agreement is approximately 95 million cubic feet per day (MMcf/d). The transaction is expected…