trending Market Intelligence /marketintelligence/en/news-insights/trending/a-lbT1_kdFcquRw9X8Vj6g2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Shell Midstream acquires 50% stake in Nautilus gas gathering system

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Shell Midstream acquires 50% stake in Nautilus gas gathering system

Crestwood Equity Partners LP closed the previously announced equity option agreement with Shell Midstream Partners LP for a 50% stake in Crestwood Permian Basin LLC which owns the Nautilus gas gathering system. The other 50% equity interest will continue to be owned by Crestwood Permian Basin Holdings LLC.

The Nautilus system gathers the majority of Shell’s operated Delaware Basin gas under a 20-year tiered, fixed-fee contract, according to an Oct. 18 news release.

Crestwood expects to use proceeds from the transaction for on-going growth project reinvestment and reducing revolver debt.

Crestwood Permian Basin Holdings is a joint venture between Crestwood Equity Partners and First Reserve Corp.

Shell Midstream Partners is a master limited partnership formed by Royal Dutch Shell plc. The transaction marks Shell's entry into the Permian Basin and reflects a strategy to maximize what company executives called the "cornerstone" of Royal Dutch Shell plc's shale assets.