Black Bear Completes Acquisition of Natural Gas Assets from Third Coast Midstream
(P&GJ)— Black Bear Transmission announced it has completed the previously announced bolt-on acquisition of a portfolio of Natural Gas Transmission assets from a subsidiary of Third Coast Midstream.
This transaction marks Black Bear’s second bolt-on acquisition, having acquired the Ozark system from Enbridge in April 2020.
The NGT Assets include six intrastate natural gas pipelines spanning approximately 1,400 miles in Alabama, Louisiana and Mississippi. The system has total capacity of more than 800 MMcf per day and benefits from significant interconnectivity to major long-haul pipelines, providing gas supply to utilities and other key end-users.
“We are very pleased to finalize this purchase of additional pipelines from Third Coast Midstream,” said Rene Casadaban, Chief Executive Officer of Black Bear Transmission. “These assets strengthen our footprint of gas pipelines that are well-positioned to capture increasing natural gas demand in the Southeast United States.”
“We are excited about the follow-on sale of the NGT Assets to Black Bear,” stated Matt Rowland, President & Chief Executive Officer of Third Coast Midstream. “Third Coast has executed a commercial services agreement with Black Bear, which will ensure a smooth transition and consistent commercial operations for Black Bear’s customers.”
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