ArcLight Capital Partners, LLC, a unit of Offshore Infrastructure Partners, LLC, announced that it has closed on its purchase from ATP Oil & Gas Corp. (ATPG) of the oil and natural gas pipelines that service ATP's Gomez Hub located at Mississippi Canyon Block 711 in the deepwater Gulf of Mexico for $78 million.
The oil pipeline is 28 miles long and has the capacity to transport up to 25,000 barrels of oil per day to the Amberjack pipeline system. The gas pipeline, also 28 miles long, has the capacity to transport 100 MMcf per day of natural gas to the Discovery Gas Pipeline.
Upon the completion of the acquisition, ATP will remain the operator of Mississippi Canyon Block 711 and will remain the operator of both pipelines. Jefferies & Company, Inc. served as exclusive financial advisor to ArcLight in the ATP transaction.
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