TEAK Midstream is a natural gas gathering and processing company, which has assets in the Eagle Ford Shale in south Texas, US.
As part of the deal, the company will acquire 200 MMcfd cryogenic processing plant, known as Silver Oak I and 265 miles of high pressure rich gas gathering lines with 750 MMcfd of throughput capacity, located in Dimmit, La Salle, McMullen, and Karnes counties in Texas.
The company will also acquire a second 200 MMcfd cryogenic processing plant called Silver Oak II, which will be delivered to the Partnership for installation in May 2013 and 275 miles of low pressure gathering lines.
The total expenditures, including construction of Silver Oak II and other projects are expected to be about $100m.
Additionally, the partnership will acquire a 50%-75% interest in different joint venture agreements, which exist between TEAK and TexStar Midstream Services.
