Regency Energy Partners LP sold its east Texas gathering and processing assets to an affiliate of Tristream Energy LLC for $70 million. Regency intends to use the proceeds to fund future growth opportunities.
“The sale of Regency’s East Texas assets allows us to place greater focus on the expansion of core assets within higher-growth regions, including several of the major shale plays,” said Byron Kelley, president and CEO of Regency.
The assets sold are primarily located in Wood, Van Zandt and Henderson counties, TX and include 371 miles of gathering pipeline, 20,000 compression horsepower, a condensate sweetening plant in Myrtle Springs and gas treating and processing facilities in Eustace. Also included are two idle processing facilities and an idle fractionation tower.