The assets are in northern Michigan and provide gas gathering and treating services for gas produced in the Antrim shale formation. The sale price was $45.1m cash.
Mark Stiers, vice president of gas sales & supply at MichCon, said: “Given the sale of DTE Energy’s exploration and production assets in the Antrim in 2007 and that we purchase very little Antrim production, these assets were deemed non-strategic.
“However we will retain and continue to operate larger gathering pipelines in the Antrim that are strategic when examining future storage development in Northern Michigan.”
DTE Energy is a diversified energy company involved in the development and management of energy-related businesses and services.
Denver-based DCP Midstream Partners processes, transports and markets natural gas. The company is managed by its general partner, DCP Midstream GP, which is wholly owned by DCP Midstream, a joint venture between Spectra Energy and ConocoPhillips.
