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Article: TEPPCO to Purchase Natural Gas Gathering System in Green River Basin, Wyo.; Duke Energy Field Services to Operate and Commercially Manage.
- Article from:
- PR Newswire
- Article date:
- September 10, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Sept. 10 /PRNewswire/ --
Eastern Products Pipeline Company, LLC, the general partner of TEPPCO Partners, L.P. (NYSE: TPP) (TEPPCO), today announced the signing of a purchase and sale agreement by which TEPPCO will acquire Jonah Gas Gathering Company, a subsidiary of Alberta Energy Company (AEC), for approximately US$360 million.
"The acquisition of these recently built, high-quality assets signals TEPPCO's entry into the natural gas gathering business," said William L. Thacker, chairman and chief executive officer of the general partner of TEPPCO. "The revenues from this system are generated under long-term, fee-based contracts with area ...