TULSA (dpa-AFX) - Williams Partners (WPZ) announced that the company and Delphi Midstream Partners, LLC have signed a memorandum of intent and agreement of exclusive negotiations regarding the Laser Gathering System and other Delphi midstream businesses.
The memorandum and agreement involves Williams Partners' potential acquisition of Delphi subsidiaries that own Delphi's midstream assets, including the Laser Gathering System, comprised of 33 miles of 16-inch natural gas pipeline and associated gathering facilities in Susquehanna County, Penn. , as well as 10 miles of gathering pipeline in southern New York. The proposed deal also includes Delphi's Mansfield Gathering System, which consists of 19 miles of pipeline in the Barnett Shale near Fort Worth, Texas.
Both parties expect to close quickly following receipt of all regulatory approvals and the signing of definitive agreements.
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