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LEVIATHAN GAS PIPELINE PARTNERS, L.P. ANNOUNCES ACQUISITION OF OFFSHORE PLATFORM

 HOUSTON, Aug. 16 /PRNewswire/ -- Leviathan Gas Pipeline Partners, L.P. (NYSE: LEV) announced today that it has acquired from Atlantic Richfield Company a drilling and production platform located in Block 332, Ship Shoal area, offshore Louisiana. In addition to the drilling and production platform, Leviathan acquired a six inch crude oil pipeline that originates at the Ship Shoal Block 332 platform and terminates at a subsea tap on Shell Pipe Line Corporation's crude oil line in South Timbalier Block 299. The purchase price for the platform and crude oil line totaled $2 million.
 The Ship Shoal Block 332 platform was originally installed in 1986 in a water depth of approximately 438 feet. The Ship Shoal Block 332 platform will continue to serve as a junction platform between Leviathan's Louisiana Offshore Gathering Systems' ("LOGS") facilities and the facilities of Transcontinental Gas Pipeline Company. The acquisition of the junction platform will increase the operational flexibility of LOGS and further position Leviathan to transport oil and gas reserves being developed in the immediate area of the platform and to take advantage of future development in the flextrend and deepwater areas to the south.
 Leviathan Gas Pipeline Partners, L.P. was formed to acquire, own and manage offshore natural gas pipeline systems and certain related assets. Leviathan recently announced the completion of its Ewing Bank Gathering System. With the completion of the Ewing Bank system, the Partnership has interests in seven fully operation natural gas pipelines located offshore Louisiana and eastern Texas.
 -0- 8/16/93
 /CONTACT: Dennis Kunetka of Leviathan Gas Pipeline Partners, L.P., 713-224-7400/
 (LEV)


CO: Leviathan Gas Pipeline Partners, L.P.; Atlantic Richfield Co. ST: Texas IN: OIL SU: TNM

TS -- NY074 -- 3120 08/16/93 13:31 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
Words:289
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