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UPDATE 1-Castleton buys New Mexico gas processing plant from Anadarko
May 1, 2014 / 5:45 PM / 3 years ago

UPDATE 1-Castleton buys New Mexico gas processing plant from Anadarko

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May 1 (Reuters) - Castleton Commodities International LLC, a privately held U.S. commodities merchant, said Thursday it acquired a gas processing plant in Kirtland, New Mexico and about 225 miles of gathering pipelines from Anadarko Petroleum Corp.

The San Juan Plant has a capacity of 75 million cubic feet of gas per day and can process sour gas that is high in sulfur as well as recover natural gas liquids through its 20 mmcf/d cryogenic processing unit, Castleton said in a statement.

Castleton, of Stamford, Connecticut, also said about 150 of San Juan’s 225 miles of gathering pipelines connect into Castle’s existing Lisbon gas plant.

A spokeswoman at Castleton said on the phone the company did not disclose the price it paid for the plant and gathering system.

“We are pleased to add the San Juan Plant to our growing portfolio of energy assets and expand our footprint in the Four Corners area,” said Brad Burmaster, Vice President of Midstream Operations, in the statement.

“The San Juan acquisition is a logical expansion of Castleton’s existing upstream and midstream assets in Colorado, Utah and New Mexico,” Burmaster said.

Castleton was formerly called Louis Dreyfus Highbridge Energy. (Reporting by Scott DiSavino; Editing by Bernard Orr)

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