Voyager Midstream Holdings, a portfolio company of Pearl Energy Investments, announced that it closed on the acquisition of a non-operated interest in the Panola Pipeline from Phillips 66.
Operated by Enterprise Products Partners, the 254-mile Panola Pipeline originates in Panola County, Texas and transports Y-Grade natural gas liquids to fractionation facilities in Mont Belvieu, Texas.
Voyager’s interest in the Panola Pipeline is a strategic fit with the company’s existing footprint in East Texas and North Louisiana. Voyager owns and operates approximately 550 miles of natural gas pipelines and associated compression, 400 million cubic feet per day of active cryogenic gas processing capacity, and 12,000 barrels per day of liquids fractionation capacity.
The company also owns, operates, and schedules the Carthage Hub, an integrated natural gas trading and delivery hub capable of handling over one billion cubic feet per day and providing interconnectivity to multiple markets across the United States, including premium LNG markets in Texas and Louisiana.
“Panola Pipeline is a critical NGL pipeline connecting the major East Texas gas processing complexes and Gulf Coast demand markets. We are excited to work alongside our partners in Panola Pipeline to safely transport liquids to satisfy growing demand for NGLs along the Gulf Coast,” said Will Harvey, Voyager Chief Executive Officer. “This acquisition strengthens our ability to provide cost-effective and reliable service to our customers.”
In conjunction with closing the Panola Pipeline acquisition, Voyager entered into a credit facility with Bank of Oklahoma. This credit facility, along with existing equity commitments from Pearl, provides Voyager with substantial flexibility and capital to continue growing its business in support of its customers.
