UGI Energy Services, the subsidiary of UGI Corp. is planning to pay $190 million for the natural gas-gathering system Stonehenge Appalachia.
Located in Pennsylvania, the Stonehenge system includes more than 47 miles of pipeline and associated compression assets, and has gathering capacity of 130 million cubic feet per day. The transaction is expected to close by Jan. 31.
“We are very pleased with this investment and the opportunity to grow our presence in the Appalachian Basin,” said Robert Beard, executive vice president of natural gas, global engineering, construction and procurement. “The acquisition of Stonehenge, in addition to our recent purchase of an ownership stake in the Pine Run gathering system, demonstrates our commitment to the Appalachian basin, which averaged a record 31.9 billion cubic feet per day of production in the first half of 2021, the highest for a six-month period since production began in 2008.”