Tallgrass Buys Piece of REX

May 2016, Vol. 243, No. 5

Tallgrass Development’s wholly owned subsidiary, Rockies Express Holdings, has signed a purchase agreement with a unit of Sempra U.S. Gas and Power to acquire Sempra’s 25% membership interest in Rockies Express Pipeline LLC for $440 million, subject to adjustment under the purchase agreement.

“Since 2012 our team has believed in REX’s significance to natural gas transportation in America, and over the past three and a half years we have executed on the strategy to solidify the pipeline’s prominence and value for the long-term,” said Tallgrass’s President and CEO David G. Dehaemers, Jr. “Tallgrass is very pleased to have the opportunity to purchase an additional interest in REX as we continue to operate the pipeline and transform it into the northern-most, bi-directional natural gas header system in the United States.”

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