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American Midstream acquires 66.7% stake in Gulf of Mexico gathering system

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American Midstream acquires 66.7% stake in Gulf of Mexico gathering system

AmericanMidstream Partners LP has acquired a 66.7% stake in the Okeanospipeline from an affiliate of its general partner to complement its existingoffshore infrastructure.

In an April 27 statement, American Midstream said thepurchase of an additional stake in the 100-mile gas gathering system in theGulf of Mexico was fully funded under the recently announced $225 millionfinancing in conjunction with the acquisition of interests in Destin, Tri-States, andWilprise, as well as the acquisition of crude, natural gas, and salt wateronshore and offshore pipelines from Chevron Corp., and the acquisition of an incrementalinterest in Delta House.

The Okeanos pipeline has total capacity of 1.0 Bcf/d andconnects two platforms and one lateral, terminating at the Destin Main Pass 260platform in the Mississippi Canyon region of the Gulf of Mexico. The pipelinehas existing capacity to accommodate third-party volumes via subsea tie-backsor new export lines, the release said.

EnbridgeInc. holds a minority stake in the system.