Chesapeake Sells Mississippi Lime Midstream Operation for $300M
Yesterday, SemGroup Corporation announced it had signed an agreement with Chesapeake Energy to purchase all of the assets of Mid-America Midstream Gas Services (a Chessy subsidiary), which owns gas gathering pipelines and processing plants in the Mississippi Lime play. SemGroup is paying Chessy $300 million in cash.
Technically it’s not a Marcellus/Utica deal, but MDN is covering this story because…
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More pipelines for both dry and wet gas, and perhaps just as important, a new cryogenic gas processing plant is coming to northwestern PA courtesy of a brand new joint venture partnership between midstream giant Williams and exploration & production giant Shell. The new jv will service not only Shell (the first customer to be signed), but also other energy producers in the area. It will be aimed at both the Marcellus and Utica Shale in the region.