Morgan Stanley Infrastructure acquires Marcellus, Utica gas gathering system
NEW YORK -- Morgan Stanley Infrastructure, the infrastructure investing platform of Morgan Stanley, has announced an agreement to acquire in stages co-control ownership of Eureka Hunter Holdings, a natural gas gathering system situated in the Marcellus and Utica shale basins in the Appalachian region of the US.
Upon completion of all stages of the transaction, Morgan Stanley Infrastructure will have co-control governance and economic interest in Eureka Hunter along with Magnum Hunter Resources Corporation, the other co-control owner of Eureka Hunter and one of Eureka Hunter’s anchor customers.
Additionally, Morgan Stanley Infrastructure will begin a broader partnership with management at Eureka Hunter and Magnum Hunter aimed at expanding operations, growing the customer base, and securing additional build-out opportunities.
The Eureka Hunter gas gathering system uses a network of pipelines to transport dry and wet gas from wellheads to long-haul pipelines and processing plants.
The system currently has more than 100 miles of pipeline in Ohio and West Virginia with interconnections to multiple processing plants and interstate pipelines. There are more than 50 additional miles under construction, most of which is scheduled for completion in 2014.
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