ArcLight to Acquire Stake in OGE Energy Midstream Assets

ArcLight Capital Partners will acquire a 9.9% equity stake in Enogex, an OGE Energy Resources midstream natural gas pipeline subsidiary.

The $183m transaction will enable ArcLight to increase its ownership stake over time through equity funding for capital expenditures associated with Enogex’s business plan.

OGE Energy chairman, president and CEO Pete Delaney said that Enogex’s strong operating capabilities combined with the additional funding to be provided by ArcLight should accelerate the expansion of OGE’s natural gas midstream business.

ArcLight Capital Partners co-founder and senior partner Robb Turner said Enogex had substantial organic growth opportunities around its strategically located mid-continent operations.

“In addition, the company is well positioned as a leading midstream platform to grow into new regions and serve new customers,” Turner said.