Black Bear Transmission Sells Ozark Natural Gas
Black Bear Transmission LLC (Black Bear) announced it has sold off all the assets owned by Ozark Gas Gathering, L.L.C. (OGG) to an undisclosed buyer.
This sell-off follows two bolt-on acquisitions completed by Black Bear this year: the purchase of the Ozark Gas Transmission and Gathering systems from Enbridge in April 2020 and the NGT Assets from Third Coast Midstream in September 2020. Black Bear is a portfolio company of the second Basalt fund (Basalt).
OGG owns and operates a fee-based, natural gas gathering system that connects regional production in Oklahoma and Arkansas to Ozark Gas Transmission and other long-haul pipelines. The asset sale consists of more than 220 active metered locations, approximately 330 miles of natural gas pipelines, and 19 active compressor units totaling 11,400 horsepower.
The terms of the transaction are not being disclosed.
Black Bear Transmission LLC transports and delivers natural gas from various pipeline receipt points to utility, power generation, and industrial customers in the Southeast United States. Following this sale, Black Bear owns and operates 13 regulated natural gas pipelines stretching more than 2,300 miles, with total delivery capacity of more than 2.6 Bcf per day. The pipelines are connected to 18 major long-haul pipelines, ensuring reliable gas supply to customers across Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee. Black Bear Transmission LLC is headquartered in Houston, TX.
