Gardere Wynne Sewell LLP represented Boardwalk Pipeline Partners LP (NYSE:BWP) in its $550-million acquisition of Petal Gas Storage LLC, Hattiesburg Gas Storage Co. and related entities from Enterprise Products Partners LP in a transaction that was signed Oct. 16, 2011.
The Gardere Houston team was led by Energy Mergers and Acquisitions Partner Douglas K. Eyberg, with assistance from Real Estate Partner Randall Jones, Energy Partner Jerry A. DeVault, Corporate Partner Daniel L. Cohen and Corporate Associate Khurram Jiwani.
Petal and Hattiesburg operate seven high-deliverability salt dome natural gas storage caverns in Forrest County, Mississippi, with approximately 29 billion cubic feet of total storage capacity, of which approximately 19 billion cubic feet is working gas capacity. These companies also own and operate a leaching plant, freshwater and brine disposal wells, approximately 69,000 horsepower of compression and approximately 105 miles of pipeline which connects their facilities with several major natural gas pipelines, including Boardwalk's Gulf South pipeline.
Completion of the sale remains subject to customary regulatory approvals and conditions. The acquisition is expected to close in the fourth quarter of 2011.
Mr. Eyberg is the head of Gardere's Energy Industry practice group, a multidisciplinary group made up of approximately 60 attorneys with diverse backgrounds, experience and skills specific to the energy industry. The Firm's national energy practice serves clients in a broad range of specialties including joint ventures and finance transactions, infrastructure development, and bankruptcy and workout transactions.
Chambers USA consistently recognizes Gardere's Corporate/M&A practice and the Energy: Oil & Gas (Transactional) practice as two of the best in the nation.