One of Enterprise Products Partners LP’s affiliates has executed a definitive agreement to acquire the midstream business and assets of Azure Midstream Partners LP and its operating subsidiaries in east Texas and north Louisiana. The agreement was the result of Azure’s bankruptcy auction proceedings, which Enterprise won with a bid price of $189 million.
The assets include over 960 miles of natural gas gathering pipelines, three natural gas processing facilities with an aggregate capacity of approximately 210 million cubic feet per day and two 10,000-bpd NGL pipelines. These assets are located in Panola, Harrison, Angelina, Shelby, San Augustine, Sabine, Nacogdoches and Rusk counties in Texas, and DeSoto and Caddo parishes in Louisiana. The system serves production from the Haynesville shale, Bossier, Cotton Valley and Travis Peak formations.
Enterprise expects to close the transaction as soon as practicable after regulatory approvals and closing conditions have been satisfied.
For more information, visit www. enterpriseproducts.com or call (225) 673-6264.