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Southcross Energy purchases Texas-based pipeline.

Southcross Energy Partners has acquired natural gas pipelines near Corpus Christi, TX along with contracts related to those pipelines. The purchase price is about $40 million in cash and funds for the acquisition were drawn from Southcross' existing credit facility. The pipelines were acquired from Onyx Midstream, LP and Onyx Pipeline Company.

The pipelines, which range from 12 to 24 inches in diameter, transport natural gas to two power plants in Nueces County, TX, under fixed-fee contracts that extend through 2029. Total length of the pipelines is about 50 miles. Natural gas volumes through the pipelines averaged 97 MMcf/d during 2013.
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Title Annotation:Projects
Publication:Pipeline & Gas Journal
Geographic Code:1U7TX
Date:May 1, 2014
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