Natural gas marketing supply chain company Eco-Energy has acquired the Stone Mountain assets owned by Continuum Energy Services for an undisclosed sum.
Eco-Energy’s acquisition included the Stone Mountain gathering pipeline system, Stone Mountain processing facility and the Stone Mountain rail terminal.
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Eco-Energy development executive vice-president Brian Simpson said: “Stone Mountain will be a strategic foothold in the Southern Appalachian market that complements our commercial marketing platform.
“Eco Energy is looking forward to our partnership with the current producer Magnum Hunter Production (a division of Montage Resources). We have worked hard to align incentives that benefit both companies and we look forward to adding new suppliers to the system as well.”
The Stone Mountain gathering system has a design capacity for 60,000Mcf/d and is made of up of more than 600 miles of gathering pipelines covering Kentucky, Tennessee, and Virginia.
The system gathers gas from more than 800 wells that supply the cryogenic processing facility prior to interconnecting with the East Tennessee pipeline.
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By GlobalDataWith a capacity of 25,000Mcf/d, the Stone Mountain cryogenic processing plant has a pipeline connection to the Stone Mountain liquids terminal.
The liquids terminal is capable of handling Y-grade, propane and butane. It has 24 railcar spots with access to the Norfolk Southern railroad and three trucks bays.
Montage Resources president and CEO John Reinhart said: “We are pleased to be working with the team at Eco-Energy and the expanded natural gas marketing capabilities they provide.”
Exploration and production company Montage Resources has about 218,000 net effective undeveloped acres that are focussed on the Utica and Marcellus Shales of southeast Ohio, West Virginia and North Central Pennsylvania.
