Western Gas Partners completed its third dropdown acquisition from its parent, Anadarko Petroleum Corp. The US$254.4 million acquisition includes the Granger gathering system and the Granger plants, all of which are located in southwest Wyoming.
The 750-mile gathering system had an average of 240 million cubic feet per day (MMcf/d) in Q4 2009 and includes related compression and other facilities. The Granger plants are two cryogenic trains with a combined capacity of 200 MMcf/d, two refrigeration trains with a capacity of 145 MMcf/d, a natural gas liquids (NGLs) fractionation facility with 9,500 barrels per day in capacity and ancillary equipment.
Western Gas officials anticipate the acquisitions to have organic growth potential in the Moxa, Pinedale and Jonah fields.
The companies previously agreed to a drop-down acquisition in July in which Western Gas acquired a 51% interested in Chipeta Processing LLC from Anadarko for $107 million (see Gas Processors Report 07/22/09).
The assets in the Chipeta sale included the Chipeta natural gas processing plant, which features a 240 MMcf/d refrigeration unit and a 250 MMcf/d cryogenic unit. The plant provides processing services for gas produced from the Greater Natural Buttes field. – Frank Nieto
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