Azure Wraps Up Louisiana, Texas Pipeline Deal

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Azure Midstream Holdings LLC announced that it has completed its acquisition from EXCO Resources Inc. and BG Group plc of 100% of the equity interest in TGGT Holdings LLC (TGGT) for an aggregate sale price of $910 million. In a related transaction, the East Texas Gathering (ETG) System, an asset managed by Tenaska Capital, is being contributed for an additional ownership interest. As partial consideration to the transaction, EXCO and BG will collectively own approximately 7% of Azure. With the combination of TGGT and ETG, Azure will operate more than 1,300 miles of gathering pipelines that move natural gas from north Louisiana and east Texas supply basins to 20+ existing major intrastate and interstate pipelines in the region. The pipelines have a combined delivery capacity of 4 Bcf/d including 2.7 Bcf/d of treating capacity. The systems are currently gathering and delivering 1.3 Bcf/d.