Stonehenge and UGI Acquire Pine Run Midstream Natural Gas Gathering System
FEBRUARY 16, 2021
WESTMINSTER, Colo.--(BUSINESS WIRE)-- Pine Run Gathering LLC (“Pine Run Gathering”) announced today that it has completed a transaction to acquire Pine Run Midstream, LLC (“Pine Run Midstream”) from an affiliate of PennEnergy Resources, LLC (“PennEnergy”) and minority partners for $205 million. Pine Run Gathering is a joint venture owned by a subsidiary of Stonehenge Energy Resources III, LLC (“Stonehenge III”), a portfolio company of Energy Spectrum Partners VIII LP, and by a subsidiary of UGI Energy Services, LLC (“UGIES”), which is a subsidiary of UGI Corporation (NYSE: UGI).