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TOP Secret deal: an asset acquisition by Superior Pipeline was made in complete anonymity
11/15/2021
Who is the mysterious seller: Durango or Tenawa? We shall see.
It has been announced that Superior Pipeline Co. LLC was successful in its purchase of natural gas gathering and processing assets in central Kansas. These assets consist of a 1,620-mile gathering system and an 85 MMcf/d cryogenic processing plant. No financial details of the deal have been disclosed as of yet.
At least for now, it remains unclear who is the other party in this transaction. In a bid to amend this secret, we narrowed the circle of likely suspects with the help of our market data to just two of them: Durango and Tenawa. According to our maps, they both suit the profile perfectly. Yet further investigation is needed.
As of Nov. 1, 2021, the acquisition became financially effective. Superior's existing infrastructure in the area will be majorly complemented by it: with the added capacity, the company will be able to serve more operators in the Midcontinent, which should expand its customer base.
According to Bill Ward, the company's senior vice president of commercial activities, this acquisition is one more step in Superior Pipeline's growth strategy that aims to consolidate synergistic assets in its core area in order to increase value for shareholders.
As for Superior Pipeline Co. LLC itself, this midstream energy company boasts full-service capabilities for natural gas gathering, handling, compression, dehydration, transportation, and marketing of natural gas and NGL.
Superior's expanding operations are spread all across the Texas and Oklahoma panhandle, Central-Western Oklahoma, Southeast Oklahoma, Southeast Texas, and the Appalachian region which includes Pennsylvania and West Virginia. Its midstream service volumes exceed 465 MMcf/d, while throughput volumes of NGL are way over 700,000 gallons/day already. And those numbers are only set to expand thanks to the mentioned transaction.
This secretive company is a joint venture, owned equally by Unit Corporation and SP Investor Holdings, LLC, a holding company, which simultaneously belongs to OPTrust and Partners Group, a global private markets investment manager.
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