Southwestern Sells Pipeline Gathering System in NEPA for $500M

Yesterday Southwestern Energy announced they've struck a deal to sell their local gathering pipeline network in Bradford and Lycoming counties in northeastern Pennsylvania for $500 million to the Texas-based Howard Midstream Energy Partners. From what we can tell, this is Howard's first foray into the Marcellus--so welcome! The pipeline network includes approximately 100 miles of natgas gathering lines with ~600 million cubic feet per day of capacity. Southwestern plans to use the half bil to pay down a loan coming due in December 2016. Howard Energy says, in their version of the announcement, that they also have a handshake deal with Southwestern to construct and operate a new gathering system for Southwestern in Tioga County, PA...

---

To view this content, log into your member account. (Not a member? Join Today!)