The EnLink Midstream companies, EnLink Midstream Partners, LP and EnLink Midstream, LLC (together “Elin”), today announced that the Partnership signed a definitive agreement to acquire Coronado Midstream Holdings LLC (“Coronado”), which owns natural gas gathering and processing facilities in the Permian Basin, for approximately $600 million, subject to certain adjustments. Coronado operates three cryogenic gas processing plants and a gas gathering system in the North Midland Basin including approximately 270 miles of gathering pipelines, 175 million cubic feet per day (MMcf/d) of processing capacity and 35,000 horsepower of compression. Construction of an additional 100 MMcf/d of processing capacity and gathering system expansions of the Coronado system are currently underway. Coronado s key assets have been constructed within the past five years and the system has current inlet volumes of approximately 100 MMcf/d. EnLink plans to connect the Coronado system with i
http://www.shaledirectories.com/blog/enlink-signs-agreement-coronado-midstream/
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