Pipeline firm buying partner
LISBON – The fourth-largest pipeline company in the United States is poised to acquire Access Midstream Partners, one the partners in the Kensington natural gas collection and processing plant.
When the deal is completed, Williams Partners will own 100 percent of the general partner interest and 50 percent of the limited partner interest in Access Midstream, according to the Youngstown Business Journal.
The deal will create one of the largest transporters of oil and gas in the United States. The cost of the transaction is $6 billion, with the combined companies having a market value of about $36.9 billion, according to Business Week.
Access Midstream, formally known as Chesapeake Midstream before it was spun off as a separate company, operates the Utica East Ohio plant in Kensington. The other partners in the joint operating venture are M3 Midstream, or Momentum, and EV Energy Partners.