The assets consist of a 20 MMcf/d cryogenic processing facility and an approximate 15-mile gathering system at Lipscomb and Hemphill, Texas.
The acquisition is an integral part of PVR panhandle systems expansion plan and involves the expansion of the Antelope Hills processing facility to a new total capacity of 70 MMcf/d, as well as an additional gathering system.
The expansion will involve an additional investment of approximately $35m over the next twelve months, and is expected to increase PVR’s panhandle total processing capacity to 330 Mmcf/d.
PVR CEO William H. Shea said the company acquisition will provide immediate relief to current capacity constraints of the company’s Texas Panhandle operations.
The Antelope Hills plant expansion will be complete by the second quarter of 2012.
US based PVR manages coal and natural resource properties and related assets, and operates a midstream natural gas gathering and processing business.
