American Central Signs Agreement with MarkWest Energy.Energy Editors/Business Editors TULSA, Okla.--(BUSINESS WIRE)--Nov. 24, 2003 American Central Western Oklahoma Western Oklahoma can usually be defined as all territory west of Interstate 35, and west of Oklahoma City. It is usually broken up into two primary regions: Northwestern Oklahoma and Southwestern Oklahoma. Gas Company, L.L.C., today announced that it has entered into an Asset Purchase and Sale Agreement with a subsidiary of MarkWest Energy Partners, L.P. (AMEX AMEX See: American Stock Exchange :MWE MWE Megawatts Electric MWE Microwave Workshops and Exhibition (IEEE-MTT) MWE Mobile Work Equipment (UK) MWE Managed Work Environment (EDS) MWE Men, Weapons and Equipment ), for the sale of the Foss Lake gathering system and Arapaho gas processing assets for approximately $38 million. Closing is scheduled for December 1, 2003. Stephen Jackson For the American football running back, see . Stephen Jesse Jackson (born April 5 1978 in Port Arthur, Texas, USA) is an American professional basketball and a co-captain player for the NBA’s Golden State Warriors. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of American Central Gas Technologies, Inc., the manager of American Central Western Oklahoma Gas Company, L.L.C., said, "This sale of our Western Oklahoma assets is an important part of our strategy to be in a position to take advantage of identified growth opportunities in the industry." The Foss Lake Gathering System consists of approximately 167 miles of 20-, 12-, 8-, 6-, and 4-inch pipeline connected to approximately 280 wells. The gathering system also includes approximately 11,000 horsepower of compression and has a capacity of 65 MMscfd with the ability to expand to 75 MMscfd. Current system throughput is approximately 58 MMscfd. All gas gathered into the Foss Lake system is ultimately compressed and delivered to the Arapaho processing plant. The Arapaho plant is a reconditioned re·con·di·tion tr.v. re·con·di·tioned, re·con·di·tion·ing, re·con·di·tions To restore to good condition, especially by repairing, renovating, or rebuilding. facility that was upgraded and modernized when installed in early 2000. All of the residue gas from the Arapaho plant is delivered into the Panhandle Eastern Panhandle Eastern Pipe Line Company, LP is a natural gas pipeline which brings natural gas from the panhandle region of Oklahoma east through the Midwest to supply Indiana and Ohio. It is owned by Panhandle Energy - Southern Union Gas Company. Its FERC code is 28. Pipeline. Formed in 1982, American Central Gas Technologies, Inc. (ACGTI), gathers, treats and processes natural gas as a service to oil and gas producers. ACGTI was the first independent gathering company to design and construct new, state-of-the-art, regional gathering systems to provide low-cost, reliable, low-pressure service to oil and gas producers over a broad geographic area. For more information about ACGTI or eLynx Technologies, please contact Shelley Heckenkemper at 918-481-6363 or visit their Web sites at www.acgti.com. |
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