SemGroup Corporation (NYSE: SEMG) and KKR today announced that SemCAMS Midstream ULC (“SemCAMS Midstream”) has closed on its acquisition of Meritage Midstream ULC’s midstream infrastructure assets in the prolific Alberta Montney resource play. SemCAMS Midstream is a newly-created joint venture owned by SemGroup and KKR.
Image: SemCAMS Midstream joint venture completes acquisition of Meritage Midstream. Photo: courtesy of sephirot17/FreeDigitalPhotos.net.
“Meritage is an excellent addition to our portfolio both geographically and operationally,” said SemCAMS Midstream President Dave Gosse. “We are pleased to welcome the Meritage staff to our team and look forward to the many benefits this acquisition brings, including a more diverse customer base, increased processing capacity and broader capabilities.”
SemCAMS Midstream owns approximately 1.1 bcf/d of natural gas processing capacity, including capacity from Meritage’s Patterson Creek Plant and the new Wapiti Plant, which came online in January 2019. SemCAMS Midstream capacity will increase to approximately 1.3 bcf/d later this year with the expected completion of the Smoke Lake Plant and Patterson Creek Plant expansion.
Source: Company Press Release