Enable Midstream Partners closed its acquisition of Align Midstream LLC, owner of natural gas gathering and processing assets in the Cotton Valley and Haynesville plays of the Ark-La-Tex Basin, according to an Oct. 4 news release.
"We are pleased to complete this acquisition, which extends our Ark-La-Tex footprint in active areas of the basin and is expected to be accretive to our 2018 distributable cash flow per unit," said Enable Midstream President and CEO Rod Sailor. "We are excited about the increasing development in the area, and the integration of these new assets will allow us to further optimize our midstream platform in the region and provide our new customers with an expanded suite of midstream services."
The acquisition includes natural gas pipelines that span about 190 miles in Rusk, Panola and Shelby counties in Texas and DeSoto Parish in Louisiana. A cryogenic gas processing plant in Panola County with a capacity of 100 MMcf/d is also included in the acquisition. Align's assets are supported by long-term, fee-based contracts, including dedication of about 100,000 gross acres from producer customers.