Tioga Gathering System to Be Acquired by Hess Midstream Partners

Hess North Dakota Pipelines agreed to purchase the crude oil and gas gathering assets of Summit Midstream Partners’ Tioga Gathering System for about $60 million gross or $12 million net to Hess Midstream.

The acquisition includes 73 miles of crude pipelines and 79 miles of gas pipelines. In a separate deal, Hess Midstream’s sponsor, Hess Infrastructure Partners (HIP), agreed to acquire the water gathering assets of the Tioga System from Summit Midstream Partners which includes 75 miles of produced water gathering pipelines.

Hess Midstream Partners chief operating officer John Gatling said, “We are excited to extend our infrastructure footprint with the agreement to purchase the Tioga System’s crude oil and gas gathering assets.”

The Tioga System, located in Williams County in western North Dakota, is complementary to Hess Midstream’s infrastructure and is delivering volumes into Hess Midstream’s gathering system. The completion of the acquisition is expected to take place in the first quarter of this year.

Source:
pgjonline