Samchully Asset Management Co. Ltd has completed a deal for a 34 percent stake in the Neptune Gas Processing Plant in Louisiana for $170 million.
The plant, based in St. Mary Parish, La., was owned by Marathon Oil Co., a subsidiary of Houston-based Marathon Oil Corp. (NYSE: MRO). Neptune is a natural gas processing plant operated by Enterprise Gas Processing LLC, the company that owns the other 66 percent. The plant provides processing services for gas pipeline systems, including TransCanada Offshore, Acadian, Columbia Gulf Transmission Nautilus and Sea Robin East.
Samchully is a Korean investment firm that focuses on investing in the energy sector. It is the investment arm of the Samchully Group, which distributes gas, heating and electricity in Korea.
The deal comes amid many in the energy sector, including Sinochem Petroleum USA LLC’s agreement to buy 40 percent of Pioneer Natural Resources Co.’s interest in the Wolfcamp Shale play for $1.7 billion, and Kinder Morgan Energy Partners LP (NYSE: KMP)’s deal to buy Copano Energy LLC (Nasdaq: CPNO) for about $5 billion.
After clicking on a story, use the back arrow in your browser to return to your search results. Use phrases "in quotes" or the tools below to better filter your results.
