Houston-based Enterprise Products Partners LP (NYSE: EPD) won an auction for a natural gas gathering and processing system out of a bankruptcy auction, according to a statement.
Enterprise is buying the system with a bid of $189 million from Dallas-based Azure Midstream Partners LP, which filed for bankruptcy at the end of January, according to the statement. When it filed, Azure reported $179 million in debts, according to court filings.
The deal is expected to close as soon as April 2017, and…
Houston Biz Journal
Houston energy co. wins midstream assets in bankruptcy auction