ArcLight Capital acquires natgas, midstream assets from Energy Corporation of America
BOSTON — ArcLight Capital Partners announced today that its affiliate, Greylock Energy, has acquired substantially all of the gas production and midstream assets of Energy Corporation of America (ECA).
Simultaneously, Greylock Energy also completed a related transaction to acquire membership interests in First ECA Midstream, which owns several gathering and transmission pipeline systems in a joint venture with ECA.
Greylock Energy is supported by a $400 MM equity commitment from ArcLight and certain co-investors to pursue gas production and midstream opportunities in Appalachia with a core focus on development of its existing West Virginia and Pennsylvania operations. The acquired assets include over 4,400 operated wells, ~713,000 net deep acres and 2,600 mi of gathering assets.
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