Stonehenge Energy Resources II has completed the sale of Stonehenge Appalachia to UGI Energy Services, a subsidiary of UGI Corp. for $190 million.
Stonehenge Appalachia is a gathering system located in Butler County, Penn., that includes more than 47 miles of pipeline and associated compression assets.
The transaction was announced in early January, with an expected closing date of Jan. 31.
Stonehenge II said it will continue to own and operate its Stonehenge Laurel Gathering system in Appalachia with its joint venture partner, Laurel Mountain Energy. In addition, Stonehenge Energy Resources III will continue to own and operate the Pine Run Midstream system, which it acquired in partnership with UGI Energy Services in February 2021.
“UGI Energy Services has become a valuable strategic partner for us in western Pennsylvania, and we are very pleased to clos