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.
