Regency Energy has acquired approximately 7% of the Haynesville joint venture (JV) from an affiliate of GE Energy Financial Services for approximately $92m.
The company has also acquired the right to vote the interest retained by GE Energy Financial Services. Regency’s total ownership interest in the JV is now approximately 49.99%. The company will continue as operator of the Regency Intrastate Gas System, which transports gas from the Haynesville Shale, a US natural gas field.
Alinda Capital, an independent private investment firm specializing in infrastructure investments, will retain its 50% ownership interest in the Haynesville JV.
Byron Kelley, chairman, president and CEO of Regency, said: “Increasing our ownership of the Haynesville joint venture is in line with our long-term growth strategy of increasing fee-based assets, which generate stable cash flows.”
Regency is engaged in gathering, contract compression, processing, marketing and transporting of natural gas and natural gas liquids.