Southcross Energy Purchases Texas-Based Pipeline

May 2014, Vol. 241, No. 5

Southcross Energy Partners has acquired natural gas pipelines near Corpus Christi, TX along with related contracts. The purchase price is about $40 million. The pipelines were acquired from Onyx Midstream, LP and Onyx Pipeline Co.

The pipelines, which range from 12-24 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.