American Midstream Partners LP (NYSE: AMID) said April 27 it snagged more assets in the Gulf of Mexico (GoM).
The Denver company acquired a 66.7% interest in the Okeanos pipeline in the GoM from an affiliate of its general partner for an undisclosed amount. The acquisition strengthens the company's position as a significant and integrated participant in offshore infrastructure, particularly in the deepwater, according to the release.
Okeanos is a 100-mile gas gathering system with total capacity of 1 billion cubic feet per day. The pipeline connects two platforms and one lateral, terminating at the Destin Main Pass 260 platform in the Mississippi Canyon region.
The pipeline is designed to meet capacity requirements for platforms currently connected and has existing capacity to accommodate third-party volumes via subsea tie-backs or new export lines.
Contracted volumes on Okeanos are based on life-of-field dedication. Enbridge Inc. (NYSE: ENB) is the minority interest holder.
On April 25, American Midstream Partners said it acquired interests in "strategic" midstream infrastructure in the GoM for about $225 million. Those acquisitions included interests in Destin, Tri-States, and Wilprise, Chevron Corp.'s (NYSE: CVX) onshore and offshore pipelines and an incremental interest in Delta House.
The company's Okeanos acquisition was fully funded under the same $225 million financing announced on April 25.
RELATED: American Midstream Buys 'Strategic' GoM Infrastructure For $225 Million
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