Spectra to Buy BIG Pipeline

Spectra Energy Corp and Spectra Energy Partners, through their affiliate, Spectra Energy Transmission II LLC, they have entered into a purchase and sale agreement to acquire from ConocoPhillips Company 100% of the equity interests in Brazoria Interconnector Gas (BIG) Pipeline LLC, which owns the BIG Pipeline.

The BIG Pipeline is a 42-inch natural gas pipeline in Brazoria County, Texas, with a capacity of approximately 1.8 billion cubic feet per day. It extends 30.5 miles between Stratton Ridge on its south end to a point near Iowa Colony in northern Brazoria County.

The newly acquired BIG Pipeline will be a component of the Stratton Ridge Project, an expansion project of the Texas Eastern Transmission pipeline system to deliver up to 400,000 dekatherms per day of natural gas to Stratton Ridge, Texas. The Stratton Ridge Project, including the BIG Pipeline acquisition, has an expected capital expenditure of approximately $200 million and is anticipated to be in service the first quarter of 2019.

The acquisition is expected to close in the second quarter of 2016, subject to certain conditions.

3 Ways Technology is Going to Shape the Oil and Gas Industry Free to Download Today

Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.

Related posts

Subscribe to OILMAN TodayDelivered to your inbox

Subscribe to OILMAN Today, a biweekly newsletter delivered to your inbox covering oil and gas business news, current events and industry information you need to know about.