Hart Energy Publishing

Buckeye Partners sells NGL pipeline system

Buckeye Partners, L.P. says it has completed the sale of its natural gas liquids (NGL) pipeline system to DCP Midstream Partners for $22 million in cash.

February 9, 2010
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The system transports NGLs from natural gas processing plants located in the Denver-Julesberg producing basin of northern Colorado to central Kansas. “We are pleased to complete the disposition of the NGL pipeline system, which was placed for sale after completion of a strategic review of our portfolio of operating assets,” said Forrest E. Wylie, Chairman and CEO of Buckeye’s general partner. “The proceeds from the sale will be used to reduce the balance outstanding on our revolving credit facility.”