| | | |

M&A Mania: Crestwood Midstream & Inergy will Merge

Crestwood Midstream and Inergy Midstream announced this morning they are merging–a deal that will create a $7 billion midstream (pipelines & processing plants) behemoth. Both Crestwood and Inergy have operations and assets in the Marcellus and Utica Shale region.

Whose name goes on the door has yet to be decided. Here are the details about the deal as provided by the two companies:
Read More “M&A Mania: Crestwood Midstream & Inergy will Merge”

| | | | | | | |

Crestwood Midstream – New Deal with Antero for Compressor Station

Crestwood Midstream provides pipelines and compressor stations in West Virginia for their customer, driller Antero Resources. In Nov. 2012 Crestwood purchased four compressor stations in Harrison and Doddridge counties to better serve Antero. Yesterday Crestwood announced another new deal with Antero to build yet another compressor station (for $35 million) to service Antero’s “western” acreage in WV.

The Crestwood announcement about the new deal with Crestwood:

Read More “Crestwood Midstream – New Deal with Antero for Compressor Station”

|

Crestwood Midstream 2012: Major Growth, Focus on Marcellus/Utica

Crestwood Midstream Partners reported their 2012 results earlier this week. In 2012, Crestwood spent $560 million on new assets: gathering pipelines, processing plants and compressor stations—most of it in the Marcellus Shale region. Crestwood’s “wet gas” gathering volumes were 62% of their total gathering volumes in 4Q12. Wet gas was just 26% in 4Q11, meaning the company has put a premium on expanding in areas where wet gas is found (western PA, northern WV and eastern OH).

Select portions of the Crestwood update:

Read More “Crestwood Midstream 2012: Major Growth, Focus on Marcellus/Utica”

|

Crestwood Midstream Ups Marcellus Investment, Buys Out Investors

Crestwood Midstream Partners, a pipeline and processing plant company with operations in the Marcellus Shale, announced yesterday they are increasing their Marcellus commitment by buying out the remaining portion of a joint venture for $258 million. Most of Crestwood’s Marcellus operations are located in the liquids-rich portion of the play in northern WV. This latest move comes after Antero Resources sold their gathering system in Harrison and Doddridge counties, WV to Crestwood for $375 million in February 2012 (see Antero Sells WV Midstream Operation to Crestwood for $375M).
Read More “Crestwood Midstream Ups Marcellus Investment, Buys Out Investors”

| | | | | |

Enerven Completes Sale of WV Compressor Plants, All Other Assets

Crestwood Midstream announced in November they were purchasing a “bolt-on” acquisition of four compression/dehydration stations from Enerven Compression for $95 million (see Crestwood Midstream Buys 4 Compressor Stations in WV). The deal will mean an additional $11-$12 million in new revenue for Crestwood in 2013. As of Dec. 28, the transaction is officially completed and the stations now bear the name of Crestwood Midstream.

Apparently selling the four compressor stations was part of a larger strategy for Enerven. In addition to the WV sale, they’ve now sold the rest of the company!

Read More “Enerven Completes Sale of WV Compressor Plants, All Other Assets”

| | | | | | | |

Crestwood Midstream Buys 4 Compressor Stations in WV

Crestwood Marcellus Midstream announced yesterday they have purchased four compression/dehydration stations from Enerven Compression for $95 million. The stations service Crestwood’s own gathering pipelines in Harrison and Doddridge counties in West Virginia. Antero Resources is the driller in the area using the Crestwood pipeline system. Crestwood’s CEO calls it a “bolt-on acquisition” for the company.

From the Crestwood press release, which includes an update on their Marcellus-related business with Antero:

Read More “Crestwood Midstream Buys 4 Compressor Stations in WV”

|

Crestwood Midstream 3Q12: Profits Up, Marcellus Gas Flows Up

Crestwood Midstream Partners, a pipeline and processing plant company with operations across the U.S, including in the Marcellus, released their third quarter financial and operational update today. Unlike drillers, midstream companies are faring a bit better in this low natgas price climate. Crestwood’s 3Q12 financials show the company’s net profit rose 10% from 3Q11 and was up 12% from 2Q12.

The company owns 35% of Crestwood Marcellus Midstream (CMM). The volume of gas flowing through CMM’s pipelines increased by 32 million cubic feet per day from the second quarter of this year. Crestwood took over pipeline operations in the Marcellus from Antero Resources in April of this year.

Read More “Crestwood Midstream 3Q12: Profits Up, Marcellus Gas Flows Up”

| | | | | | | |

Antero Sells WV Midstream Operation to Crestwood for $375M

Antero Resources announced yesterday that they have sold their Marcellus Shale midstream gathering system in Harrison and Doddridge counties, WV to Crestwood Holdings for $375 million with a sweetener of an extra $40 million if certain production targets are met in 2012 and 2013.

From the Crestwood/Antero press release:

Read More “Antero Sells WV Midstream Operation to Crestwood for $375M”

| | | | | | | | |

Mum’s the Word on New Tygart Valley Pipeline in WV

In December, MDN reported that Houston-based Crestwood Midstream will construct a new 16” inch Marcellus gathering pipeline that will run 42 miles through Preston, Taylor and Barbour counties in northeast West Virginia, connecting to Columbia Gas Transmission’s WB Pipeline in Randolph County, WV, delivering Marcellus gas to the Washington, DC and Baltimore markets (see this MDN story).

Read More “Mum’s the Word on New Tygart Valley Pipeline in WV”

| | | | | | | | | |

Crestwood to Build New Marcellus Pipeline in NE WV

Houston-based Crestwood Midstream yesterday announced they will construct a new 16” inch Marcellus gathering pipeline that will run 42 miles through Preston, Taylor and Barbour counties in northeast West Virginia, connecting to Columbia Gas Transmission’s WB Pipeline in Randolph County, WV. By connecting to the WB Pipeline the new gathering pipeline will have access to the Washington, DC and Baltimore markets.

The new pipeline will be completed by this time next year and already has a long term “anchor” contract with Mountaineer Keystone, a Pittsburgh-based drilling company that will commence their horizontal drilling program in the area in the middle of 2012.

Read More “Crestwood to Build New Marcellus Pipeline in NE WV”