Black Bear Transmission acquires gas transmission business from Enbridge
Houston-based Black Bear Transmission has completed the acquisition of Ozark Gas Transmission (OGT) and Ozark Gas Gathering (OGG) in the US from a subsidiary of Canadian energy infrastructure firm Enbridge.
The financial details of the transaction have not been disclosed.
Ozark Gas Transmission is the owner and operator of a 367-mile interstate natural gas pipeline transportation system, which runs from southeastern Oklahoma through Arkansas to southeastern Missouri. The natural gas pipeline system, which is regulated by the US Federal Energy Regulatory Commission (FERC), is said to have significant interconnectivity to major long-haul natural gas pipelines.
On the other hand, Ozark Gas Gathering, owns and operates a fee-based, natural gas gathering system which spans 330 miles. Ozark Gas Gathering connects regional production into Ozark Gas Transmission.
Black Bear Transmission is a portfolio company of the second Basalt fund that transports and supplies natural gas from various pipeline receipt points to power generation, industrial and utility customers across the Southeast US.
Black Bear Transmission acquires gas transmission business from Enbridge. Photo courtesy of Adam Radosavljevic from Pixabay.
Rene Casadaban – CEO of Black Bear Transmission said: “We are very excited to add the Ozark pipeline and gathering system to the Black Bear Transmission portfolio.
“This investment expands our asset base of high-quality, demand-driven natural gas pipelines serving utilities and other key end-user customers across the Southeastern United States. We look forward to working with the Ozark operations team to continue providing safe and reliable service to all of the Ozark customers.”
For Basalt, Barclays was the financial advisor while Morgan, Lewis & Bockius was the legal advisor. On the other hand, Enbridge had TD Securities as financial adviser and Norton Rose Fulbright served as its legal advisor.