Voyager Midstream Holdings has acquired Haynesville shale natural gas gathering and processing assets—in Panola, Rusk, and Harrison counties in Texas and Caddo Parish in Louisiana—from Phillips 66.
The acquisition includes about 550 miles of natural gas pipelines and associated compression, 400 MMcfd of active cryogenic gas processing capacity, and 12,000 b/d of liquids fractionation capacity, Voyager Midstream said in a release Sept. 3. The deal also includes the Carthage Hub, an integrated natural gas trading and delivery hub capable of handling over 1 bcfd. The hub provides interconnectivity to multiple markets across the US, including access to LNG markets in Texas and Louisiana, the company continued.
Phillips 66 divestiture plan
The divestiture by Phillips 66 is part of a previously announced plan to shed certain assets. In its second-quarter 2024 report in July, the company noted progress through the recent sale of its 25% non-operated interest in Rockies Express Pipeline LLC to a Tallgrass Energy subsidiary (OGJ Online, June 14, 2024).
Since 2022, total proceeds from asset dispositions are $1.1 billion toward the company’s previously announced target of over $3 billion. While a purchase price for the asset sale to Voyager Midstream was not disclosed, an August 2024 investor update from Phillips 66 noted a $200-million sale of US Gulf Coast gathering and processing assets in this year's third quarter.
Voyager Midstream is a portfolio company of Pearl Energy Investments (OGJ Online, July 25, 2023).
