DALLAS, Feb 10, 2010 (BUSINESS WIRE) -- Dallas-based Energy Transfer Partners, L.P. /quotes/comstock/13*!etp/quotes/nls/etp (ETP 44.10, -0.03, -0.07%) today announced it has signed an agreement to purchase certain natural gas gathering and treating assets in the Haynesville Shale from Tristate Midstream, L.P., a portfolio company of Dallas-based Energy Spectrum. Energy Transfer is acquiring Tristate North Louisiana Midstream, LLC and TSM Treating, LLC, which collectively own a 120-mile gathering system in Red River and Bienville Parishes with a capacity of 275 million cubic feet per day, and natural gas treating facilities with approximately 480 million cubic feet per day of treating capacity.
"We are pleased to be expanding our gathering and treating assets in the Haynesville Shale producing region," said ETP's Mac Stallcup, Vice President -- Louisiana Business Development. "These Tristate assets, which include significant long-term acreage dedications, are not only strategically located, but further compliment our emerging presence in the area. Through this acquisition, we have increased acreage dedicated to us under long-term gathering agreements in the Haynesville Shale to more than 100,000 acres."
The gathering network will tie to several interstate and intrastate pipelines including Energy Transfer's planned Tiger Pipeline. Tiger Pipeline, expected to be in service in the first half of 2011, is under development and consists of an approximately 180-mile, 42-inch natural gas pipeline that will serve the Haynesville Shale producing region in Louisiana and the Carthage Hub area in East Texas.
The closing of this acquisition is subject to receipt of customary regulatory approval.
Energy Transfer Partners, L.P. /quotes/comstock/13*!etp/quotes/nls/etp (ETP 44.10, -0.03, -0.07%) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP's natural gas operations include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. /quotes/comstock/13*!ete/quotes/nls/ete (ETE 30.73, -0.23, -0.74%) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners, L.P. and approximately 62.5 million ETP limited partner units.
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. An extensive list of factors that can affect future results are discussed in ETP's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. ETP undertakes no obligation to update or revise any forward-looking statement to reflect new information or events
The information contained in this press release is available on the Partnerships' website at www.energytransfer.com.
SOURCE: Energy Transfer Partners, L.P.
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