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BP sells 2 Texas gas plants to Eagle Rock Energy

BP sells 2 Texas gas plants to Eagle Rock Energy

August 13th, 2012 in News

LONDON (AP) - Oil company BP is selling two gas processing plants in Texas to Eagle Rock Energy Partners.

BP said Monday that Eagle Rock Energy Partners is paying $227.5 million in cash for the Sunray and Hemphill gas processing plants in Texas. The plants have a combined capacity of 220 million cubic feet of gas per day and a gathering system of about 2,500 miles (4,000 km) of pipelines.

Houston-based Eagle Rock Partners says the deal includes a 20-year agreement to process BP's natural gas production from the existing wells connected to the two plants.