Pinedale LGS

Wyoming | Liquids Gathering System
Category
Assets, Midstream

The Pinedale Liquids Gathering System (LGS) consists of more than 150 miles of pipeline, with 107 receipt points and four central storage facilities located in the Pinedale Anticline in Wyoming. The system was acquired in 2012 and leased to a subsidiary of Ultra Petroleum (guaranteed by the parent company) under a triple-net participating lease with a 15-year initial term.

Energy Infrastructure Investment Highlights

150 miles of pipeline, over 100 receipt points, and four major gathering facilities

  • Critical to operation of Ultra Petroleum’s Pinedale natural gas field – the 6th largest natural gas field in the U.S.1
  • Estimated to support over 90% of Ultra Petroleum’s proved and probable reserves
  • Purchase financed with co-investor in 2012. CorEnergy acquired the minority stake in 2017.
  • 15-year triple-net lease

1 U.S. Energy Information Administration, Top 100 U.S. Oil and Gas Fields, March 2015

Infrastructure Asset Snapshot

  • Real Property Asset I 15-year triple net lease
  • Lessee – Subsidiary of Ultra Petroleum Corp
  • Acquired: December 2012 for $228 million