EnLink Midstream Partners LP’s subsidiary acquired a 50% ownership interest in the Deadwood natural gas processing facility from a subsidiary of Apache Corp. (APA) for about $40 million, the parent company said Nov. 16. With the subsidiary’s ownership interest, EnLink now has full ownership of Deadwood.
Pursuant to a 2011 agreement, EnLink and Apache jointly funded the development of a newbuild processing facility, each holding 50% undivided ownership interest. EnLink managed the plant’s initial construction and has operated the facility since its startup.
The facility in Glasscock County, Texas, in the Permian Basin has capacity of 58 million cubic feet per day (MMcf/d) of gas, and currently processes about 45MMcf/d.
The acquisition brings EnLink’s net processing capacity in the Permian to 343MMcf/d, excluding the Riptide processing plant, which is currently under construction, and will add another 100MMcf/d of processing capacity in the Midland Basin.
EnLink Midstream Partners LP is based in Dallas.
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