Superior Pipeline acquires gathering pipeline in Oklahoma
Superior Pipeline Co. completed the acquisition of about 600 miles of pipeline infrastructure in central Oklahoma.
Specifically, the company acquired gathering pipeline and compression assets. Gathering pipelines transport gases and liquids from the source – like rock formations – to a processing facility, refinery, or transmission line.
This acquisition will complement Superior’s existing infrastructure in the region. Superior’s existing facilities will process the gas volumes associated with the acquisition. These assets will provide greater operational flexibility and efficiency for Superior’s gathering and gas processing facilities in the area. This acquisition, and its associated third-party contracts, will expand Superior’s customer base.
“This acquisition is the first step in the Superior plan to grow its midstream business through the acquisition and consolidation of synergistic midstream assets,” Mike Hicks, chief operating officer at Superior, said.
Superior Pipeline provides oil and gas production and distribution services. It designs, constructs, owns and operates natural gas gathering and compression facilities. The company, based in Tulsa, Okla., is a joint venture owned by Unit Corporation and SP Investor Holdings, a holding company jointly owned by OP Trust and funds managed by Partners Group, a global private markets investment manager. They each own a 50 percent stake.
