Enable Midstream Acquires Monarch Natural Gas Gathering Assets in Texas Panhandle
Enable Midstream Partners recently completed an $80 million acquisition of natural gas gathering assets in the Cleveland Sands Play in the Texas Panhandle from Monarch Natural Gas.
The assets are underpinned by long-term dedication of 35,000 net acres from a producer who is a current Enable Midstream customer. The 88 miles of recently built gathering pipeline and 5,000 horsepower of associated compression will provide gathering services to the natural gas producer drilling in Lipscomb and Hemphill Counties, as well as other producers in the area.
“This acquisition opens new opportunities for us to grow by extending our midstream services to several producers operating farther west in the Cleveland Sands Play where wells continue to provide attractive returns,” said Lynn Bourdon, Enable Midstream president and CEO.
Enable Midstream owns, operates and develops strategically located natural gas and crude oil infrastructure assets. The partnership’s assets include approximately 12,000 miles of gathering pipelines, approximately 7,900 miles of interstate pipelines (including Southeast Supply Header, LLC of which the partnership owns 49.90 percent) and approximately 2,300 miles of intrastate pipelines.
Tags: Cleveland Sands Play, Enable Midstream, Monarch Natural Gas, Texas
