One-Page Deal Sheet
Sanchez PP Acquires 50% Stake in Carnero Gathering System
Sanchez Production Partners Lp Sanchez Energy Corp
Announced Date
July 05,2016
Transaction Type
Asset
Location
Region
Gulf Coast - South Texas
Country
United States
State
Texas
County
La Salle
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Sanchez Energy Corporation announced that the Company has executed an agreement with Sanchez Production Partners LP pursuant to which SPP has acquired the Company's 50% interest in Carnero Gathering, LLC for an initial payment of approximately $37 million and the assumption by SPP of remaining capital commitments to Carnero Gathering, which are estimated at approximately $7.4 million.
Carnero Gathering, a joint venture that is 50% owned by Targa Resources Corp., will own a total of approximately 45 miles (10 miles of which remain under construction) of high pressure natural gas gathering…
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