Crestwood Marcellus Midstream Acquires Four West Virginia Compressor and Dehydration Stations
On December 28, 2012, Crestwood Marcellus Midstream LLC (CMM) completed the $95 million acquisition of four natural gas compression and dehydration stations from Enerven Compression LLC (Enerven). Crestwood Midstream Partners LP, the operator and 35% owner of CMM, first announced the deal on November 26, 2012. The acquired stations are connected to CMM’s low pressure gathering systems in Harrison County, West Virginia and serve the Marcellus Shale development of Antero Resources Appalachian Corp. (Antero), CMM’s largest producer in the region. The current capacity of the compressor stations is approximately 300 million cubic feet per day (MMcf/d), which is fully utilized by Antero’s Marcellus Shale production. As part of the deal, Enerven agreed to complete station expansions and unit replacements to support additional Antero production requirements. CMM will retain Enerven’s Marcellus operations personnel to support its gathering and compression business in the area.