MichCon Pipeline Co. a subsidiary of DTE Energy (DTE) announced it has completed its sale of natural gas gathering and treating assets to DCP Midstream Partners LP (DPM). The sale price was $45.1 million cash.
The assets are in northern Michigan and provide gas gathering and treating services for gas produced in the Antrim shale formation.
Given the sale of DTE Energy's exploration and production assets in the Antrim in 2007 and that we purchase very little Antrim production, these assets were deemed non-strategic," said Mark Stiers, MichCon vice president, Gas Sales & Supply. "However we will retain and continue to operate larger gathering pipelines in the Antrim that are strategic when examining future storage development in Northern Michigan."
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