Black Bear Acquires Gas Transmission Assets from Enbridge
4/02 8:57 AM
Black Bear Acquires Gas Transmission Assets from Enbridge CANYON LAKE, Texas (DTN) -- Black Bear Transmission LLC, a portfolio company of the second Basalt fund, announced Wednesday (4/1) that it has completed the acquisition of Ozark Gas Transmission, L.L.C. and Ozark Gas Gathering, L.L.C. from a subsidiary of Enbridge Inc. OGT owns and operates a 367-mile, FERC-regulated interstate natural gas pipeline transportation system that extends from southeastern Oklahoma through Arkansas to southeastern Missouri which has interconnectivity to major long-haul natural gas pipelines. OGG owns and operates a fee-based, 330-mile natural gas gathering system that connects regional production into OGT's pipeline. "We are very excited to add the Ozark pipeline and gathering system to the Black Bear Transmission portfolio," said Rene Casadaban, Chief Executive Officer of Black Bear Transmission LLC. "This investment expands our asset base of high-quality, demand-driven natural gas pipelines serving utilities and other key end-user customers across the Southeastern United States." The terms of the transaction were not disclosed. Houston-based Black Bear Transmission transports and delivers natural gas from various pipeline receipt points to power generation, industrial and utility customers in the Southeast United States. The company's eight regulated natural gas pipelines extend more than 1,200 miles with total delivery capacity of more than 1.8 Bcf per day. The pipelines are connected to 12 major long-haul pipelines that provide natural gas supply to customers across Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee. Basalt I and Basalt II are infrastructure equity investment funds focused on investments in utilities, power, transport, and communications infrastructure in North America and Europe. Other investments by the Basalt funds in North America include the Upper Peninsula Power Company, Texas Microgrid, DB Energy Partners, Detroit Thermal, Hyperion, and Helios Power. (c) 2020 DTN. All rights reserved.