trending Market Intelligence /marketintelligence/en/news-insights/trending/IHTnxBrIj8lqPOZXWx8nTw2 content esgSubNav
In This List

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

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

Smart thermostats gain traction in US, point to modest electricity savings

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Insight Weekly: Banks pursue deals; offshore wind transmission; UK broadcasters vs. streamers


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.