•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Plains All American acquires Eagle Ford infrastructure assets from Chesapeake Energy

    Houston-based Plains All American Pipeline LP has expanded its Eagle Ford portfolio with a $125 million acquisition of certain Eagle Ford infrastructure assets from a subsidiary of Chesapeake Energy Corp. The acquisition includes crude oil and condensate gathering assets in the Eagle Ford area of South Texas and is estimated by Baird Equity Research to be between 0% and 2% accretive to distributable cash flow (DCF) per unit.

    Pro forma for Plains All American’s previous $750 million senior note offering, $500 million acquisition of Bakken assets, and this $125 million acquisition, Baird analysts estimate the company has approximately $1.0 billion in available liquidity and does not anticipate that it will need to issue equity in the near term.

    The acquired assets include approximately 40 miles of crude oil/condensate gathering pipelines with a throughput capacity of approximately 50,000 barrels per day; 150,000 barrels of existing crude oil and condensate storage capacity; 300,000 barrels of storage capacity under construction and a truck unloading terminal. In support of the transaction, Chesapeake has provided long-term acreage dedications of future production in Webb and Dimmit counties.

    PAA owns a network of approximately 18,000 miles of liquids pipelines, 120 million barrels of liquids storage capacity and handles more than 3 million barrels of physical product on a daily basis.

    Plains All American Pipeline LP (NYSE: PAA) is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage LP (NYSE:PNG), PAA owns and operates natural gas storage facilities.

    Related Articles

    Rice Energy acquires Marcellus acreage from Chesapeake for $336M

    07/07/2014 Rice Energy Inc. has signed a definitive purchase and sale agreement to acquire approximately 22,000 net acres and 12 developed Marcellus wells in western Greene County, Pennsylvania, from Chesapea...

    Rose Rock closes assets acquisition from Chesapeake

    06/24/2014

    Rose Rock Midstream LP has closed its transaction to acquire crude oil trucking assets from a subsidiary of Chesapeake Energy Corp.

    Seventy Seven Energy names COO

    06/13/2014 Chesapeake Oilfield Operating LLC (now doing business as Seventy Seven Energy) has appointed Karl Blanchard as COO, effective on the distribution date of the recently announced spin-off of Seventy ...

    Chesapeake updates on 2014 asset sales

    05/16/2014

    Chesapeake Energy Corp. has agreed to sell noncore producing assets in Southwestern Oklahoma, East Texas, and South Texas.

    More Oil & Gas Financial Articles

    Chesapeake, RKI swap Powder River Basin assets

    Tue, Jul 29, 2014

    Rice Energy acquires Marcellus acreage from Chesapeake for $336M

    Mon, Jul 7, 2014

    Rice Energy Inc. has signed a definitive purchase and sale agreement to acquire approximately 22,000 net acres and 12 developed Marcellus wells in western Greene County, Pennsylvania, from Chesapeake Appalachia, LLC and its partners for approximately $336 million.

    Rose Rock closes assets acquisition from Chesapeake

    Tue, Jun 24, 2014

    Rose Rock Midstream LP has closed its transaction to acquire crude oil trucking assets from a subsidiary of Chesapeake Energy Corp.

    Seventy Seven Energy names COO

    Fri, Jun 13, 2014

    Chesapeake Oilfield Operating LLC (now doing business as Seventy Seven Energy) has appointed Karl Blanchard as COO, effective on the distribution date of the recently announced spin-off of Seventy Seven Energy from Chesapeake Energy Corp.

    Chesapeake updates on 2014 asset sales

    Fri, May 16, 2014

    Chesapeake Energy Corp. has agreed to sell noncore producing assets in Southwestern Oklahoma, East Texas, and South Texas.

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ