February 2012, Vol. 239 No. 2

In The News

Western Gas Partners Acquiring Midstream Assets From Anadarko

Western Gas Partners, LP will buy the Red Desert Complex and related assets, primarily in the greater Green River Basin of southwestern Wyoming, from Anadarko Petroleum Corp. for $483 million.

“We continue to execute our strategy of growing the WES portfolio in liquids-rich areas,” said Western Gas Partners’ President and CEO Don Sinclair. “These assets are a great complement to our existing footprint in the greater Green River Basin, which continues to see solid resource development. As a result of our capital markets activity in 2011, we are able to consummate this material transaction while still maintaining conservative leverage ratios.”

Western Gas will purchase Anadarko’s 100% ownership interest in Mountain Gas Resources LLC, which owns the Red Desert Complex, a 22% interest in Rendezvous Gas Services, L.L.C., and related facilities. Red Desert, which represents over 90% of MGR’s cash flow, includes the Patrick Draw processing plant with a capacity of 125 MMcf/d, the Red Desert processing plant with a capacity of 48 MMcf/d, 1,295 miles of gathering lines, and related facilities. Rendezvous owns a 338-mile mainline gathering system serving the Jonah and Pinedale Anticline fields in southwestern Wyoming that delivers gas to WES’s Granger Complex and other locations.