Altus Midstream Co., a pure-play, Permian-to-Gulf Coast midstream C-corporation, announced on May 29 that its subsidiary, Altus Midstream Processing, will acquire a 26.7 percent equity interest in the $2.1 billion pipeline Permian Highway Pipeline (PHP).
The PHP is expected to transport up to 2.1 billion cubic feet per day of natural gas from the Waha area in northern Pecos County, Texas, to the Katy, Texas, area, with connections to Texas Gulf Coast and other markets.
The pipeline is expected to be in service by October 2020.
It is approximately 26.7 percent owned by each of Altus Midstream Processing, Kinder Morgan and EagleClaw Midstream Ventures, with the remaining 20 percent owned by an anchor shipper affiliate.
