Christopher E. Smith
OGJ Pipeline Editor
HOUSTON, Apr. 11 -- Spectra Energy Partners agreed to acquire the NOARK Pipeline System LP from Atlas Pipeline Partners LP for $300 million cash. The transaction is expected to close in the second quarter.
NOARK's primary asset is the 565-mile Ozark Gas Transmission LLC interstate natural gas transmission pipeline system extending from southeast Oklahoma through Arkansas into southeast Missouri.
The system interconnects with numerous other interstate pipeline systems, including Spectra's Texas Eastern Transmission system.
In addition, the transaction means Spectra will acquire Ozark Gas Gathering LLC, a 365-mile, fee-based natural gas gathering system in eastern Oklahoma and western Arkansas.
The sale by Atlas comes a week after it formed a Marcellus shale midstream joint venture with Williams in which Williams will own 51% of Atlas's Appalachian basin gathering system and operate it (OGJ Online, Apr. 2, 2009).
Contact Chris Smith at [email protected]
