Enstor, An Affiliate Of ArcLight Capital Partners, Acquires East Cheyenne Natural Gas Storage
HOUSTON, Jan. 8, 2019 /PRNewswire/ -- Enstor, an affiliate of ArcLight Capital Partners, today announced the acquisition of the 12 Bcf East Cheyenne natural gas storage facility. East Cheyenne is located in Logan County, Colorado and is interconnected to the Trailblazer pipeline. Enstor plans to integrate the facility into its existing natural gas storage platform, which ArcLight acquired in 2018.
"East Cheyenne strategically expands Enstor's operations into the Rockies, Midwest, and West gas markets," said Paul Bieniawski, Chief Executive Officer of Enstor.
"The combination of East Cheyenne, the pending acquisition of Sempra's gas storage facilities, and our existing Enstor platform will create the largest independent natural gas storage operator in the United States," said Dan Revers, Managing Partner and Founder of ArcLight.
Pro forma for the Sempra transaction, Enstor will own and operate underground natural gas storage facilities in the Gulf Coast, Southwest, and Rockies regions of the United States with net working gas storage capacity of more than 120 Bcf. Enstor's natural gas storage facilities access supply from the largest U.S. production basins and are strategically located in market areas which serve growing demand from LNG liquefaction, industrial expansions, power generation and exports to Mexico. Enstor also holds development rights to a partially constructed hydrocarbon storage asset in the Permian basin and another undeveloped asset close to Mont Belvieu, Texas. More information about Enstor can be found at www.enstorinc.com.
ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, the firm helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested approximately $21 billion in over 100 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists and works closely with the firm's 1,000-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclightcapital.com.