The system near Carlsbad in Eddy County, N.M., will have low- and high-pressure gas gathering pipelines, a 130 million cubic feet per day cryogenic processing plant and an NGL takeaway pipeline.
The amendment also provides for a new $15 million commitment from certain of the parent’s shareholders in the form of equity or debt by Dec. 31, 2017.
There were more than six weeks of negotiations, but Cheniere determined that an acceptable definitive agreement could not be reached, according to a Dec. 9 press release.
Harris Ziskroit, chief investment officer of Dauphine, said Pin Oak is working with the Port of South Louisiana and residents and the government of St. John the Baptist Parish.
Those who do not sell UWTI during the week of Dec. 5 could be forced to hold the notes for years since they do not officially expire until February 2032, Reuters reported.
CCH will use the net proceeds to prepay a portion of the principal amounts currently outstanding under its credit facilities.
Tellurian Investments Inc., a private company founded by Charif Souki and Martin Houston, said Nov. 28 it received $25 million in preferred equity from GE Oil & Gas, with an implied Tellurian common stock value of $5.94 per share.
The net proceeds will support general corporate purposes and reduce short term debts of TransCanada and its affiliates.
The offering and private placement are expected to close on Nov. 22.
Tallgrass Energy GP LP will not receive any proceeds from the offering, which is expected to close on Nov. 22.
These are being offered as additional notes to the outstanding 5.875% senior notes due 2026, $250 million of which were publicly offered in March.
The pipeline is expected to be completed and in service in the second half of 2017.