HomeMagazine2016March 2016, Vol. 243, No. 3WGL Midstream Invests $89 Million in Stonewall Gathering System

March 2016, Vol. 243, No. 3

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WGL Midstream Invests $89 Million in Stonewall Gathering System

WGL Midstream, a WGL Holdings company, announced it exercised an option for an $89 million equity investment in the Stonewall Gas Gathering System, representing a 35% ownership stake. The system began operations in November and currently gathers 1 Bcf/d of natural gas daily from the Marcellus production region in West Virginia, delivering it to an interstate pipeline system. WGL Midstream secured an option to invest in the Stonewall system as part of an existing supply agreement with Antero Resources Corporation, a natural gas operator in the Marcellus and Utica Shale region, and the primary shipper in Stonewall. The agreement with Antero included a firm sales agreement for 330,000 Dth/d

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