Superior Pipeline Company, L.L.C. announced that it has completed the acquisition of natural gas gathering and processing assets consisting of an approximately 1,620 mile gathering system and an 85 MMcf/d cryogenic processing plant located in central Kansas. The terms of the transaction are confidential.
The financial effective date of the acquisition is November 1, 2021. The acquired assets will complement the existing Superior infrastructure in the area. Volumes on the system will expand Superior’s customer base allowing Superior to serve a larger group of operators in the Mid Continent.
Bill Ward, Superior Pipeline’s Senior Vice President of Commercial Activities, said: “This midstream acquisition continues our growth strategy to consolidate synergistic assets in our core area to enhance the value of Superior Pipeline for its shareholders.”
Superior is a joint venture owned 50% by Unit Corporation and 50% by SP Investor Holdings, LLC, a holding company jointly owned by OPTrust and funds managed and/or advised by Partners Group, a global private markets investment manager.