The assets sold are primarily located in Wood, Van Zandt and Henderson counties, Texas, and include approximately 371 miles of gathering pipeline, approximately 20,000 compression horsepower, a condensate sweetening plant in Myrtle Springs, Texas.
The assets also include gas treating and processing facilities in Eustace, Texas. Also included in the sale are two idle processing facilities and an idle fractionation tower.
Byron Kelley, president and CEO of Regency, said: “The sale of Regency’s east Texas assets allows us to place greater focus on the expansion of core assets within higher-growth regions, including several of the major shale plays.
“This transaction will be immediately accretive to unitholders, and we expect it to positively impact our credit metrics by improving our fee-based business mix.”
