Hilcorp’s Harvest Midstream business will buy the system in the nation’s Four Corners region that includes more than 3,700 miles of pipeline, two gas processing plants, and one carbon dioxide treatment facility in an area stretching from
“This is an important investment for Harvest and part of our continued commitment to the Four Corners region,” said Harvest CEO
Williams will use some of the proceeds to move into
Williams will operate the joint venture in what will be a 50-50 financial partnership with KKR. However, Williams will initially own 40 percent and then allocate more funds to build up to 50 percent.
The Discovery assets include 60 million cubic feet per day of gas processing capacity with an another 200 million cubic feet a day of processing capacity currently under construction. Discovery also includes 130 miles of natural gas pipelines, as well as 260,000 acres dedicated for gas gathering and processing, plus an additional 60,000 acres for oil gathering.
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