Global private equity and venture capital news and research

Delphi exits Laser Northeast Gathering System for $750m

22 Dec 2011

Houston, Texas-based energy investor Delphi Midstream Partners (DMP) has sold Laser Northeast Gathering System and other midstream businesses to Williams Partners for around $750m.

The Laser Gathering System comprises 33 miles of 16-inch natural gas pipeline and associated gathering facilities in Susquehanna County, Pennsylvania, as well as ten miles of gathering pipeline in southern New York.

The acquisition is supported by existing long-term gathering agreements that provide acreage dedications and volume commitments. As production in the Marcellus increases, the system is expected to reach a capacity of 1.3 billion cubic feet per day (Bcf/d).

“The acquisition of the Laser system continues our strategy of safely and reliably serving producers through large-scale midstream infrastructure in the Marcellus Shale and other basins,” said Rory Miller, senior vice president of Midstream for Williams Partners.

Williams Partners plans to fund the purchase price of the acquisition with a combination of $300m cash and around 7.5 million Williams Partners common units. DMP, which is owned by American Securities, bought the assets last year.

DMP has a capital commitment from American Securities to acquire up to $2bn in midstream energy assets and businesses. The firm typically invests in opportunities valued at between $50m and $500m, according to its website.

Copyright © 2011 AltAssets


AltAssets Mobile App

To access the latest private equity news and stories download the new AltAssets mobile app from the

Leave a Reply

You must be logged in to post a comment.

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2015