Antero to purchase Crestwood’s Marcellus Shale assets for $205M
Friday, September 16, 2022
Antero Midstream Corp. plans to purchase the Marcellus Shale natural gas gathering and compression assets owned by Crestwood Equity Partners LP for $205 million, according to Houston Business Journal.
The bolt-on acquisition still requires regulatory approval; however, if all goes well, it would boost Antero’s gas compression capacity by 20% and gas compression mileage by 15%.
Crestwood’s assets span 140,000 acres in Doddridge and Harrison counties, WV, and include 72 miles of dry gas gathering pipelines and nine compressor stations with about 700 MMcf/d of compression capacity.
Learn more: Houston Business Journal > Houston-based Crestwood to sell Marcellus assets to Antero Midstream for $205M
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.