J-W Energy Company closed on the sale of substantially all of its midstream, and oil and gas assets to affiliates of Aethon United. The assets in the transaction are located mainly in the North Louisiana and North Texas areas and are comprised of about 95,000 net acres, and 380 miles of associated gathering and processing infrastructure.
The sale represents an exit from the upstream and midstream business by J-W Energy, which will continue to own its large, privately-held compression fleet through subsidiary J-W Power Company. During the past 10 years, J-W Energy has also sold off its drilling, valve manufacturing, gas measurement and wireline businesses.
“This exit from the upstream and midstream businesses will allow J-W Energy Company to focus on our compression business, which has been less capital intensive than the upstream and midstream businesses,” said said David A. Miller, president of J-W Energy.