The acquired system consists of eight miles of gathering pipelines within two miles of Southcross’ existing rich gas pipeline network and services customers under acreage dedication contracts.
The closing of each merger is expected to occur on Nov. 26.
A deal valuing the assets at more than $1 billion could be announced within three weeks, Bloomberg reported Nov. 17.
The 263-mile pipeline supplies natural gas in and around the St. Louis region and to small municipalities in central Missouri.
Plains purchased interest in the 400-mile northern leg of the line runs from the Permian to East Houston.
Shell Chemical LP exercised its option to acquire land in Monaca, Pa., which could be used to build a $4 billion world-scale ethane cracker in the heart of the Marcellus Shale, from Horsehead Holding Corp.
EnLink Midstream expects to have invested roughly $700 million in the Utica and Marcellus region by the end of 2015.
Combined, the company would own enough miles of pipeline to crisscross the U.S. about 25 times.
The dropdown acquisition includes two crude oil rail facilities and pipeline assets.
The sale was made in conjunction with France's Total SA, which also sold its 25% interest in CGS.
The assets were bought by Black Hills Corp. for $17 million.
The western Permian Basin will be served by a crude oil terminal, the company said.
|E&P||USD 720||Members only||Undisclosed|
|S&S||USD 34.6||Members only||WaterWorks Corral Creek LLC|
|E&P||USD 1400||Members only||Apache Corp.|
|E&P||USD 185||Members only||Forest Oil Corp.|