BUYERS:

Pine Run Gathering LLC

UGI Corporation

UGI Energy Services

Stonehenge Energy Resources III, LLC

Energy Spectrum Partners VIII

SELLERS:

Pine Run Midstream, LLC

PennEnergy Resources LLC

ASSETS:

Pine Run Gathering Pipeline

DETAILS:

COST: 205 $MM

NOTES:
Pine Run Gathering has closed on a deal to acquire Pine Run Midstream from upstream company PennEnergy Resources and other partners for $205 million. Pine Run Gathering is a joint venture between Stonehedge Energy Resources III (Energy Spectrum Partners) and UGI Energy Services, LLC (UGI Corporation.) They are financing the deal with equity capital, with Stonehenge III contributing 51% and UGI 49%.

REGIONS:

Appalachia