Pine Run Gathering recently completed its acquisition of Canonsburg-based Superior Midstream Appalachian for $120 million subject to customary adjustments.
Superior Appalachian owns and operates the Pittsburgh Mills, Snow Shoe, and Brookfield gathering systems in Pennsylvania. They have a collective daily flow of approximately 190 million cubic feet.
“Today marks an exciting day for us and our partners at UGI Energy Services,” Patrick Redalen, Stonehenge president and CEO, said. “This acquisition underscores our optimism about the future of our industry and the strength of our partnerships with UGI and Energy Spectrum. We are excited to welcome the talented team that has been supporting these assets and look forward to continuing to work closely together with the customers on all our systems as we help provide the energy needed by our country and the world.”
Pine Run Gathering is a joint venture owned by a subsidiary of Stonehenge Energy Resources III, a portfolio company of King of Prussia-based UGI Corporation’s wholly owned subsidiary UGI Energy Services and Texas-based infrastructure firm Energy Spectrum Partners VIII LP.
Stonehenge with hold a 51 percent ownership interest in Superior Midstream Appalachian and UGI will hold 49 percent.
The Pittsburgh Mills system connects to UGI Energy Services’ Big Pine gathering system.