Phillips 66 decided to unload 550 miles of natural gas pipelines in east Texas and Louisiana, selling the asset to Voyager Midstream Holdings, a portfolio company of Pearl Energy Investments.
The acquisition includes natual gas gathering and processing assets in Panola, Rusk and Harrison counties in Texas and the Caddo parish in Louisiana. Voyager stated in a press release that the acquisition puts it in the core of the prolific Haynesville Shale.
The acquisition includes approximately 550 miles of natural gas pipelines and associated compression, 400 million cubic feet per day of active cryogenic gas processing capacity, and 12,000 barrels per day of liquids fractionation capacity. Importantly, the acquisition also includes the Carthage Hub, an integrated natural gas trading and delivery hub capable of handling over one billion cubic feet per day. The Carthage Hub provides interconnectivity to multiple markets across the United States, including access to premium LNG markets in Texas and Louisiana.
“This transaction with Phillips 66 represents an important milestone for Voyager, as it positions us for significant growth in the core of the Haynesville Shale,” said Will Harvey, Voyager’s Chief Executive Officer. “We are committed to growing our infrastructure footprint in East Texas and North Louisiana and improving producer connectivity and netbacks.”
