HomeMagazine2011October 2011, Vol. 238 No. 10Boardwalk To Buy Storage Companies From Enterprise Products For $550M

October 2011, Vol. 238 No. 10

Projects

Boardwalk To Buy Storage Companies From Enterprise Products For $550M

Boardwalk Pipeline Partners announced Oct. 17 that it has agreed to acquire Petal Gas Storage, L.L.C. and Hattiesburg Gas Storage Company and related entities from Enterprise Products Partners L.P. for $550 million in cash (subject to customary adjustments). Petal and Hattiesburg operate seven high deliverability salt dome natural gas storage caverns in Forrest County, Mississippi, having approximately 29 Bcf of total storage capacity, of which approximately 19 Bcf is working gas capacity. These companies also own and operate a leaching plant, freshwater and brine disposal wells, approximately 69,000 horsepower of compression and approximately 105 miles of pipeline which connect

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