Houston represents Vega Energy in US$1.3bn transaction of natural gas assets

Business September 30, 2016

Our Houston office represented Vega Energy Partners, Ltd. in its divestiture of its 15 percent interest in Stonewall Gas Gathering, a West Virginia pipeline company, to DTE Energy.

The deal was a part of a larger transaction totaling US$1.3 billion between DTE Energy, M3 Midstream and Vega, in which DTE also purchased a 40 percent interest of SGG and 100 percent interest of Appalachia Gathering System from M3 Midstream.

These natural gas assets cut across both the Marcellus and Utica shale regions and gather assets in the Appalachian region for markets in the Great Lakes.

The team, led by Ned Crady, included Bobby Phillpott, David Peterman, Kasyn Stevenson and Mark Hamrick (Houston).