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Western Gas buys Marcellus gas gathering assets from Anadarko and Chesapeake

BY DEBBIE CAI

HOUSTON -- Western Gas Partners has agreed to acquire interests in gas gathering systems from Anadarko Petroleum and Chesapeake Energy for a combined $623.5 million.

The limited partnership, which went public in December, will purchase a 33.75% interest in both the Liberty and Rome gas gathering systems from Anadarko for $490 million. It will also acquire a 33.75% interest in the Larry' s Creek, Seely and Warrensville gas-gathering systems from an affiliate of Chesapeake for $133.5 million.

The assets in both the acquisitions serve production from the Marcellus shale in north-central Pennsylvania and have current total combined throughput of more 1.2 Bcfpd.

These immediately accretive Marcellus acquisitions further enhance both our geographic diversity and our fee-based asset portfolio, Western Gas COO Danny Rea said. "We expect that the high quality of the underlying resources in combination with the large inventory of wells not yet connected to the systems will provide significant near-term growth."

Dow Jones Newswires

02/28/2013

 

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