Black Bear Divests Natural Gas Gathering Assets in Mississippi
The sale forms part of Black Bear's ongoing strategy to offload non-core, production-focused assets.
Houston-based Black Bear Transmission, (Black Bear) has announced the successful divestment of BBT Mississippi (BBT MS) gas gathering assets to Skye MS, based in Columbia, Mississippi.
BBT MS operates a fee-based, natural gas transmission system, delivering gas to an array of utility, industrial, and power generation customers. It also links wellhead production in Mississippi to regional long-haul pipelines. The assets sold include more than 120 miles of natural gas pipelines and eight active metered locations.
CEO of Black Bear, Rene Casadaban, stated, "This transaction represents continued execution of our ongoing efforts to divest non-core, production-focused assets within our pipeline portfolio. We remain committed to our core business, which is to maintain and grow our substantial market-driven natural gas transmission network, while continuing to provide safe and reliable service."
Scott Langston, Senior Vice President and Chief Commercial Officer for Black Bear, added, "This is another solid win for our team. As of today, we have successfully transferred more than seven hundred (700) miles of supply-driven gathering pipelines, twenty (20) compressors, and two-hundred and fifty (250) metering stations over the past three years. We will continue to identify and advance all opportunities to improve our business via corporate development and organic growth initiatives.”
The specific terms of the transaction remain confidential.
Black Bear Transmission operates in the transport and delivery of natural gas from various pipeline receipt points to utility, power generation, and industrial customers in the Southeast United States. Black Bear currently owns and operates 12 regulated natural gas pipelines, extending over 1,900 miles with a total delivery capacity exceeding 2.6 billion cubic feet per day. These pipelines connect to 18 major long-haul pipelines, ensuring a reliable gas supply to customers across Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee.
