Eagle Rock Energy to Purchase Brookeland and Masters Creek Texas and Louisiana Gas Gathering and Processing Assets From Duke Energy Field Services
Posted on: Monday, 10 April 2006, 09:01 CDT
Eagle Rock Energy ("Eagle Rock") today announced that it has acquired certain natural gas gathering and processing assets in Texas and Louisiana from Denver-based Duke Energy Field Services.
The properties are located in Southeast Texas and Louisiana and include the Brookeland gas processing plant with a throughput of approximately 100 million cubic feet per day, the Brookeland and Masters Creek gathering systems with approximately 600 miles of gas gathering lines and estimated natural gas liquid production of 2,500 barrels per day. The employees associated with the assets will join Eagle Rock.
Eagle Rock currently has gas gathering, processing and treating assets throughout the State of Texas, and is planning an extension of its Tyler County gathering pipeline that will interconnect with the assets obtained in this acquisition. "These assets support our commitment to the producers who are aggressively developing this area of East Texas and Louisiana as well as producers who are interested in Eagle Rock Energy's focus on customer service," said Alex Bucher, co-founder and Chief Executive Officer of Eagle Rock. "We remain excited about the continued growth and strategic opportunities provided to our business."
Eagle Rock was formed in June 2002. It currently has natural gas gathering and processing assets across the state of Texas. Eagle Rock remains a source of simple and innovative ideas enhancing operating efficiencies and providing solutions to our customers. Eagle Rock is a portfolio company of Natural Gas Partners, the premier provider of private equity capital in the energy industry. Founded in 1988, Natural Gas Partners is an affiliate of NGP Energy Capital Management, a $3.6 billion firm based in Irving, Texas, that invests in all sectors of the energy industry.
Source: Business Wire
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