Black Bear Transmission Acquires Ozark Natural Gas Transmission Business from Enbridge
(P&GJ) — Black Bear Transmission announced it has completed the acquisition of Ozark Gas Transmission (OGT) and Ozark Gas Gathering (OGG) from a subsidiary of Enbridge Inc.
OGT owns and operates a 367-mile, FERC-regulated interstate natural gas pipeline transportation system. The system extends from southeastern Oklahoma through Arkansas to southeastern Missouri and is connected to major long-haul natural gas pipelines.
OGG owns and operates a fee-based, 330-mile natural gas gathering system that connects regional production into OGT’s pipeline.
“This investment expands our asset base of natural gas pipelines across the southeastern United States," said Black Bear Transmission CEO Rene Casadaban.
The terms of the transaction are not being disclosed.
Barclays served as exclusive financial advisor to Basalt and Morgan, Lewis & Bockius LLP served as Basalt’s legal advisor. TD Securities served as exclusive financial adviser to Enbridge and Norton Rose Fulbright US LLP served as Enbridge’s legal advisor.
Black Bear Transmission is a portfolio company of the second Basalt fund. Basalt I and Basalt II, managed by Basalt Infrastructure Partner, are equity funds focused on investments in utilities, power, transport, and communications infrastructure in North America and Europe.
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