The midstream partnership will have combined assets worth $11bn, which will include CenterPoint’s interstate pipelines and field services businesses and Enogex’s midstream business.
The partnership will be managed by a general partner whose governance will be shared by CenterPoint Energy and OGE on a 50/50 basis.
New midstream partnership will own and operate about 8,400 miles of interstate pipelines, which will have the capacity to transport about nine billion cubic feet per day. The partnership will also have 2,300 miles of intrastate pipelines.
It will also have gathering lines of over 11,000 miles with capacity to supply nearly 4 billion cubic feet of natural gas per day.
Additionally, the assets will include over 90 billion cubic feet of natural gas storage capacity and 11 major processing plants with nearly 2 billion cubic feet per day of inlet capacity.
CenterPoint Energy, OGE Energy and ArcLight each will hold about 58.3%, 28.5% and 13.2% interest in the partnership, respectively.
CenterPoint Energy and OGE Energy will also own 40% and 60% interest, respectively, in any incentive distribution rights held by the general partner.
