GE Energy Financial Invests in Texas Gas Gathering Assets
Fueling the build out of unconventional oil, gas and gas liquids infrastructure to support North American shale, GE Energy Financial Services said it has invested in Howard Energy Partners, an owner and operator of 280 miles of natural gas pipelines in the Eagle Ford Shale of South Texas.
Howard Energy will double its size by using the investment to partially fund the acquisition of Meritage Midstream Services’ natural gas gathering assets in South Texas.
GE acquired a 30.6% stake in Howard Energy for an undisclosed amount. Other investors were Crosstex Energy, Quanta Services and Clear Springs Energy Company. The transaction is expected to close in April, subject to regulatory approvals and customary closing conditions.