Plains All American Pipeline LP Acquires Eagle Ford Infrastructure Assets From Chesapeake Energy Corporation's Subsidiary


Thursday, 13 Dec 2012 08:00am EST 

Plains All American Pipeline LP announced that it has acquired certain crude oil and condensate gathering assets located in the Eagle Ford area of South Texas from a subsidiary of Chesapeake Energy Corporation. The purchase price was approximately $125 million. The acquired assets include approximately 40 miles of crude oil/condensate gathering pipelines with a throughput capacity of approximately 50,000 barrels per day; 150,000 barrels of existing crude oil and condensate storage capacity; 300,000 barrels of storage capacity under construction and a truck unloading terminal. In support of the transaction, Chesapeake has provided long-term acreage dedications of future production in Webb and Dimmit counties. The acquired assets are complementary to and will be connected with PAA`s existing crude oil and condensate gathering systems.