•  
  •  
  •  
  •  
  •  
  • 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.

    Most Popular

    Related Articles

    MarkWest appoints Stice to board of directors

    05/19/2015 MarkWest Energy Partners LP has appointed J. Mike Stice to serve as a member of the board of directors of MarkWest’s general partner, MarkWest Energy GP LLC. Stice will stand for election at MarkWe...

    Patterson joins Chesapeake in EVP role

    05/04/2015 Frank Patterson is joining Chesapeake Energy Corp. as executive vice president of exploration, land, and subsurface technology. Patterson replaces John Kapchinske, who recently retired from the com...

    SandRidge appoints Suter as SVP of production

    04/24/2015

    SandRidge Energy Inc. has appointed John Suter as senior vice president of production, effective April 27.

    AELP adds new executive members to team

    04/22/2015 American Energy Partners LP (AELP) has hired Scott D. Sachs as senior geoscience executive advisor, James C. Johnson as senior marketing and midstream executive, and Traci D. Cook as chief accounti...

    Chesapeake appoints Querrey to board of directors

    04/07/2015 Chesapeake Energy Corp. has appointed Kimberly K. Querrey to the company’s board of directors. Querrey will serve as a member of the Audit Committee and will stand for reelection at the 2015 annual...

    DW: US shale gearing up for price recovery

    04/06/2015

    Douglas-Westwood (DW) commented on “US shale – Gearing up for a price recovery” in its latest edition of DW Monday.

    More Oil & Gas Financial Articles

    MarkWest appoints Stice to board of directors

    Tue, May 19, 2015

    MarkWest Energy Partners LP has appointed J. Mike Stice to serve as a member of the board of directors of MarkWest’s general partner, MarkWest Energy GP LLC. Stice will stand for election at MarkWest’s 2016 Annual Meeting of Common Unitholders.

    Patterson joins Chesapeake in EVP role

    Mon, May 4, 2015

    Frank Patterson is joining Chesapeake Energy Corp. as executive vice president of exploration, land, and subsurface technology. Patterson replaces John Kapchinske, who recently retired from the company.  

    SandRidge appoints Suter as SVP of production

    Fri, Apr 24, 2015

    SandRidge Energy Inc. has appointed John Suter as senior vice president of production, effective April 27.

    AELP adds new executive members to team

    Wed, Apr 22, 2015

    American Energy Partners LP (AELP) has hired Scott D. Sachs as senior geoscience executive advisor, James C. Johnson as senior marketing and midstream executive, and Traci D. Cook as chief accounting officer.

    Chesapeake appoints Querrey to board of directors

    Tue, Apr 7, 2015

    Chesapeake Energy Corp. has appointed Kimberly K. Querrey to the company’s board of directors. Querrey will serve as a member of the Audit Committee and will stand for reelection at the 2015 annual meeting of shareholders on May 22.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ