DTE Energy closes purchase of natural gas midstream assets
DTE Energy today announced it completed the $1.3 billion purchase of midstream natural gas assets in Pennsylvania and West Virginia.
"This completed acquisition is a great addition to our portfolio and supports both our strategy in this segment and our drive to continue to grow and earn strong returns for shareholders," said Gerry Anderson, DTE Energy chairman and CEO.
The acquired assets are in a highly productive area of the Southwest Marcellus/Utica region and have significant expansion potential.
The completed acquisition includes:
- 100 percent of Appalachia Gathering System (AGS) from M3 Midstream LLC
- 40 percent of Stonewall Gas Gathering (SGG) from M3 Midstream LLC
- 15 percent of SGG from Vega Energy Partners