Stonehenge, UGI acquire natural gas gathering system
Feb. 16, 2021
Pine Run Gathering LLC completed a transaction to acquire Pine Run Midstream LLC from an affiliate of PennEnergy Resources LLC and minority partners for $205 million.
Pine Run Gathering LLC completed a transaction to acquire Pine Run Midstream LLC from an affiliate of PennEnergy Resources LLC and minority partners for $205 million.
Pine Run Gathering is a joint venture owned by a subsidiary of Stonehenge Energy Resources III LLC, a portfolio company of Energy Spectrum Partners VIII LP, and by a subsidiary of UGI Energy Services LLC, which is a subsidiary of UGI Corp.
Pine Run Midstream operates 43-miles of dry gas gathering pipeline and compression assets in Butler and Armstrong counties in western Pennsylvania. The Pine Run Midstream system has been in operation since 2014 and will be operated by Stonehenge.
