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ENERGY & UTILITIES | Oil & Gas Production & Exploration

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Stage

Acquired | Acquired

Valuation

$0000 

About Caiman Eastern Midstream

Caiman Eastern Midstream operates in natural gas industry. The company gathers and processes natural gas liquids.In April 2012, Caiman Eastern Midstream was acquired by Williams Partners. The valuation of Caiman Eastern Midstream was $2.5 billion.

Caiman Eastern Midstream Headquarter Location

5949 Sherry Lane Suite 1300


Dallas, Texas, 75225,

United States

Latest Caiman Eastern Midstream News

Potential of shale spurs deal for $2.5B

Mar 21, 2012

Connect With Us More Articles The Dispatch E-Edition The E-Edition includes all of the news, comics, classifieds and advertisements of the newspaper.And it's available to subscribers before 6 a.m. every day. All current subscribers have full access to Digital D, which includes the E-Edition andunlimited premium content on Dispatch.com, BuckeyeXtra.com, BlueJacketsXtra.com andDispatchPolitics.com. Subscribetoday! By Dan Gearino The Columbus Dispatch • Wednesday March 21, 2012 6:03 AM Williams Partners of Oklahoma has made a $2.5 billion deal to gain a foothold in the Marcellusshale, and it plans to invest in the Utica shale. The Tulsa-based company said on Monday that it is buying Caiman Eastern Midstream, a subsidiaryof Dallas-based Caiman Energy. Caiman Eastern is an independent oil-and-natural-gas pipeline and processing company with apresence in eastern Ohio, northern West Virginia and southwestern Pennsylvania. The company’sassets include two processing plants and a “fractionator” — a plant that separates natural-gasliquids into components such as butane and ethane. The company also has long-term contracts to handle the oil and gas from 10 producers that haveleases for 236,000 acres in the three states. “This is a location, location, location kind of deal,” said Alan Armstrong, CEO of WilliamsPartners, in a conference call with analysts. In addition to the purchase, Williams Partners said it is working with Caiman Energy on aventure to develop pipelines and processing capacity in the Utica shale, a rock deposit underneaththe Marcellus that extends across eastern Ohio. Energy companies have speculated that the Utica is unusually rich in oil and natural-gasliquids, both of which have a higher market value than natural gas. The deal “further strengthens Williams’ position as a leading midstream services provider in theregion,” Wells Fargo analyst Sharon Lui said in a research note. Williams Partners is a limited partnership that focuses on the transportation and processing ofoil and natural gas. It is closely tied to Williams Cos., an energy company that owns nearlythree-quarters of the partnership. Last week, Chesapeake Energy and partners said they plan to spend $900 million on a processingplant in Columbiana County in eastern Ohio. That announcement and this one from Williams show that several companies are confident enough inthe Utica’s potential that they are investing in the infrastructure needed to transport and processthe resources. dgearino@dispatch.com

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