Anadarko Sells Majority Stake in The Springfield Pipeline System in South Texas

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Anadarko Sells Majority Stake in The Springfield Pipeline System in South Texas

Tue, 03/01/2016 - 09:24
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EIA Map of Eagle Ford Shale Play (© 2013 EIA)
EIA Map of Eagle Ford Shale Play (© 2013 EIA)

Anadarko has announced the sale of its majority stake in the Springfield Pipeline LLC to Western Gas Partners for $750 million.

The Springfield system (which gathers Anadarko's and its partners' Eagleford shale production in South Texas) includes 548 miles of gas-gathering lines with a capacity of 795 million cubic feet a day; 241 miles of oil-gathering lines with a capacity of 130 million barrels a day; 24 compressor stations; 260,000 barrels of oil storage; and 75,000 barrels a day of “stabilization capacity.”

Don Sinclair, Western's chief executive officer, said “with the support of Anadarko and the strength of our portfolio, we believe we can continue to deliver meaningful distribution growth even in this commodity price environment."

The deal is expected to close by mid - March 2016.

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