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Black Bear Roars with Success: Mississippi Gas Gathering Assets Sold
07/03/2023
Skye MS LLC purchased a package deal from Black Bear, which included over 120 miles of natural gas pipelines and eight active metered locations.
Black Bear Transmission LLC, based in Houston, successfully finalized the sale of gas gathering assets owned by BBT Mississippi LLC (BBT MS) to Skye MS LLC of Columbia, Mississippi. The specific amount of the transaction remains undisclosed.
BBT MS is the proud owner and operator of a fee-based, natural gas transmission system that efficiently supplies gas to utility, industrial, and power generation customers. It facilitates the connection of wellhead production in Mississippi to regional long-haul pipelines.
Based on the information available on Black Bear's website, BBT MS boasts an extensive asset portfolio, which includes:
- 1,405 miles of pipeline with a daily capacity of up to 830,000 MMBtu.
- The system is equipped with 8,101 horsepower of compression and has established 20 interstate pipeline connections.
- This asset sale encompasses a remarkable package, including over 120 miles of natural gas pipelines and eight operational metered locations.
- Transfer of over 700 miles of supply-driven gathering pipelines, along with 20 compressors and 250 metering stations.
Scott Langston, the senior vice president and chief commercial officer of Black Bear, highlighted the company's successful track record of transferring significant assets over the past three years.
“We will continue to identify and advance all opportunities to improve our business via corporate development and organic growth initiatives,” he said.
Divestiture in BBT MS Transaction
Black Bear CEO Rene Casadaban reiterates commitment to core business and safe, reliable service
In an ongoing effort to streamline their pipeline portfolio, Black Bear CEO Rene Casadaban emphasizes the significance of the BBT MS transaction. The divestment of non-core, production-focused assets aligns with the company's mission to maintain and expand their market-driven natural gas transmission network.
With ownership of 12 regulated natural gas pipelines spanning over 1,900 miles, Black Bear Transmission boasts a remarkable total delivery capacity exceeding 2.6 Bcf/d. These pipelines are seamlessly integrated into 18 major long-haul pipelines, effectively supplying customers in Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee.
About Black Bear Transmission
- Black Bear Transmission, LLC is a natural gas transportation company based in Houston, TX.
- They transport and deliver natural gas to utility, power generation, and industrial customers in the Southeast United States.
- The company owns and operates 12 regulated natural gas pipelines spanning over 1,900 miles.
- The total delivery capacity of these pipelines is more than 2.6 billion cubic feet (Bcf) per day.
- Black Bear's pipelines are connected to 18 major long-haul pipelines, ensuring a reliable gas supply to customers across seven states: Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee.
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Permian Resources Secures a Major Deal in the Thriving Delaware Basin
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Permian Resources bolsters dominance in the Delaware Basin with strategic land acquisitions, expanding its portfolio by over 5,000 net leasehold acres and 3,000 royalty acres. In a stunning display of growth and strategic maneuvering, Permian Resources Corp., based in Midland, Texas, has made waves in the first quarter by securing a series of deals worth over $200 million in the highly sought-after Delaware Basin. This move solidifies their position as a player in the region.
Diamondback Wraps Up Permian Divestitures, Sets Sights on Midstream Deals
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/156Blog_Diamondback Closes Permian Divestitures_ Eyes More Midstream Sales.png)
Diamondback Energy is on a roll! In the first quarter, they made impressive strides towards their goal of divesting $1 billion in non-core assets by year-end. They successfully sold their upstream and midstream assets, marking a significant achievement.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/184Blog_Rangeland Energy Divests Canadian Pipeline to Kingston Midstream.png)
Rangeland Energy has agreed to sell Rangeland Midstream Canada to Kingston Midstream Alberta and remains committed to future Canadian midstream investments. Texas-based Rangeland Energy, supported by financial partner EnCap Flatrock Midstream, has inked a deal to sell its Canadian subsidiary, Rangeland Midstream Canada Ltd., to Calgary's Kingston Midstream Alberta Ltd. for cash.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/187Blog_ONEOK Completes Acquisition of Magellan Midstream.png)
The merger between ONEOK and Magellan received approval from Magellan shareholders, securing just 55% of the total votes at Magellan’s meeting on Sept. 21. ONEOK Inc. has successfully concluded the acquisition of Magellan Midstream Partners LP on Sept. 25. The deal will bring together their respective assets and expertise, resulting in a powerful entity boasting an extensive network of approximately 25,000 miles of pipelines primarily focused on transporting liquids.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/186Blog_Viper Energy Secures $1 Billion in Permian.png)
Viper Energy's deal, comprised of cash and equity, secures an additional 2,800 net royalty acres in the Midland Basin and 1,800 in the Delaware Basin. Viper Energy Partners LP, a Diamondback Energy Inc. subsidiary, has inked a deal to acquire mineral and royalty interests in the Permian Basin. The deal, valued at around $1 billion, is with Warwick Capital Partners and GRP Energy Capital. Viper was established by Diamondback with the purpose of owning, purchasing, and capitalizing on oil and natural gas assets in North America, specifically targeting mineral and royalty interests.