Enbridge to Acquire Atlas Elk IT System

US-based Enbridge Energy Partners will acquire the Elk City gathering and processing system (ECOP) from Atlas Pipeline Partners for $682m.

The ECOP comprises 800 miles of natural gas-gathering pipeline, one hydrogen sulphide treating plant, three cryogenic processing plants with a total capacity of 370 million cubic feet a day, and a combined current NGL production capability of 20,000 barrels a day.

The system extends south-western Oklahoma to the Texas Panhandle and complements Enbridge’s Andarko system.

The acquisition is expected to close by the third or fourth quarter of 2010.