CenterPoint joins partnership plan

CenterPoint Energy Inc. has formed a new partnership with a jointly owned subsidiary of OGE Energy Corp. and ArcLight Capital Partners LLC, the Houston based company said.

The partnership will create a midstream company that will have combined assets of almost $11 billion, according to a news release. Some of the assets will be in Arkansas to service the Fayetteville Shale.

The limited partnership will combine CenterPoint Energy’s interstate pipelines and field-services operations with Enogex LLC’s midstream business. Enogex is a jointly owned subsidiary of OGE Energy and ArcLight, according to the news release.

The new business will own and operate 8,400 miles of interstate pipelines, 2,300 miles of intrastate pipelines,11,000 miles of gathering lines, 11 major processing plants and more than 90 billion cubic feet of storage capacity for natural gas.

In addition to Arkansas, the assets will be in natural gas and liquid plays in Oklahoma, Texas and Louisiana.

The partnership is expected to be completed in the second or third quarter of 2013, pending regulatory approval, according to the news release.

Business, Pages 32 on 03/16/2013

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