Crestwood Equity Partners sells West Coast assets

November 19, 2018 By    

Crestwood Equity Partners completed the sale of its West Coast NGL operations, known as Crestwood West Coast LLC, to an undisclosed buyer.

Assets divested by Crestwood include a fractionator, rail and truck terminal, and other facilities near Bakersfield, California, as well as three propane rail terminals in Nevada and Wyoming, the company reports. Crestwood’s West Coast NGL customers are now being served by a new operator, and employees have transferred to the new company, providing continuity to customers.

The company is reinvesting the proceeds of about $70 million, supporting high-growth opportunities to provide natural gas producers and NGL customers with flow assurance through Crestwood’s gathering and processing operations in the Bakken, Powder River and Permian Basins, Crestwood says.

*Featured image: iStock.com/designer491

About the Author:

Clara Richter is the managing editor at LP Gas magazine. Contact her at crichter@northcoastmedia.net or 216-363-7920.

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