Black Bear Transmission Closes Bolt-on Acquisition of Natural Gas Transmission Assets
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Black Bear Transmission has completed the bolt-on acquisition of a portfolio of Natural Gas Transmission assets (NGT) from a subsidiary of Third Coast Midstream.
Black Bear is a portfolio company of the second Basalt fund. This transaction marks Black Bear’s second bolt-on acquisition, having acquired the Ozark system from Enbridge in April 2020.
The NGT assets include six intrastate natural gas pipelines spanning approximately 1,400 miles in Alabama, Louisiana, and Mississippi. The system has total capacity of more than 800 MMcf per day and benefits from significant interconnectivity to major long-haul pipelines, providing reliable, cost-advantaged gas supply to utilities and other key end-users.
“We are very pleased to finalize this purchase of additional pipelines from Third Coast Midstream. These assets are a perfect fit with Black Bear because they strengthen our footprint of high-quality, demand-driven gas pipelines that are well-positioned to capture increasing natural gas demand in the Southeast United States,” said Rene Casadaban, chief executive officer of Black Bear Transmission.
“A team of seasoned operations and business development personnel will be coming to Black Bear with the assets, allowing us to maintain our focus on providing safe and reliable service to our customers. We appreciate all the work on the part of Third Coast Midstream for making this a successful transaction, and we look forward to completing a smooth transition,” added Casadaban.
“We are excited about the follow-on sale of the NGT Assets to Black Bear. This transaction represents one of the final pieces of Third Coast’s strategic repositioning to focus on its core offshore and Gulf Coast asset base,” said Matt Rowland, president and chief executive officer of Third Coast Midstream.
“In addition, Third Coast has executed a commercial services agreement with Black Bear, which will ensure a smooth transition and consistent commercial operations for Black Bear’s customers,” added Rowland.
About Black Bear
Black Bear Transmission LLC transports and delivers natural gas from various pipeline receipt points to utility, power generation and industrial customers in the Southeast United States. Black Bear owns and operates 14 regulated natural gas pipelines stretching more than 2,600 miles, with total delivery capacity of more than 2.6 Bcf per day. The pipelines are connected to 18 major long-haul pipelines, ensuring reliable gas supply to customers across Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma and Tennessee. Black Bear Transmission LLC is headquartered in Houston, Texas.
To stop by Black Bear’s website, CLICK HERE
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