Houston--(BUSINESS WIRE)--Black Bear Transmission LLC (“Black Bear”), announced the divestiture completion of gas gathering assets owned by BBT Mississippi, LLC (“BBT MS”) to Skye MS, LLC of Columbia, Mississippi.
BBT MS owns and operates a fee-based, natural gas transmission system that delivers gas to utility, industrial, and power generation customers and connects wellhead production in Mississippi to regional long-haul pipelines. The asset sale consists of more than 120 miles of natural gas pipelines and eight active metered locations.
“We are happy to announce the closing of this deal,” said Rene Casadaban, Chief Executive Officer of Black Bear. “This transaction represents continued execution of our ongoing efforts to divest non-core, production-focused assets within our pipeline portfolio. We remain committed to our core business, which is to maintain and grow our substantial market-driven natural gas transmission network, while continuing to provide safe and reliable service.”
“This is another solid win for our team,” added Scott Langston, Senior Vice President and Chief Commercial Officer for Black Bear. “As of today, we have successfully transferred more than seven hundred (700) miles of supply-driven gathering pipelines, twenty (20) compressors, and two-hundred and fifty (250) metering stations over the past three years. We will continue to identify and advance all opportunities to improve our business via corporate development and organic growth initiatives.”
The terms of the transaction are undisclosed.
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For media inquiries:
Black Bear Transmission
Rene Casadaban