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Anadarko Sells Bison Processing Plan to Western Gas

by Kenneth E. DuBose on July 5, 2011

Anadarko Petroleum is selling gas processing assets in the Powder River Basin of eastern Wyoming to its Western Gas subsidiary for $130 million. The plant processes natural gas and carbon dioxide. Expect processing capacity in the Powder River Basion to increase if the Niobrara Shale proves commercial across the basin

“Western Gas Partners LP said it will buy the Bison gas treating facility and related assets located in the Powder River Basin from Anadarko Petroleum Corporation for $130 million.”

“Western Gas Partners is a limited partnership formed by Anadarko Petroleum to operate and develop midstream energy assets.”

“The company, which said the deal will immediately add to its distributable cash flow, said it will pay .405 cents per unit in the second quarter to unit holders of record as on July 29.”

Read the full news release at reuters.com

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