Public Announcement
SK Corporation invests $250 million in U.S. shale company Brazos Midstream
Author
EIP
Date
2018-05-18 09:00
Views
141
SK Corp., the investment holding company of SK Group, is accelerating the expansion of its global energy business.
SK Corporation announced on the 18th that it had decided to invest $250 million in Brazos Midstream Holdings, a North American shale oil and gas G&P (Gathering & Processing) company, at a board meeting.
G&P refers to the Gathering service business, which gathers natural gas produced from gas fields and transports it through pipelines, and the Processing service business, which removes impurities from the transported natural gas and processes it to make it suitable for transportation and sale to end consumers.
This equity investment will be made through Plutus Capital, SK Corporation's US subsidiary. The company stated, "Amidst the shale oil boom and high oil prices, SK Corporation's investment in a high-growth company in the Permian region, the largest U.S. production region, has enabled it to expand its global energy business and secure profits." The company added, "Last year, SK Corporation invested in Eureka, a U.S. shale gas G&P company, marking the beginning of its full-scale investment in the global energy sector. Through this investment, we expect to generate synergies with our existing energy businesses and create a major revenue stream for SK's North American operations."
Source: Chosun Biz)
SK Corporation announced on the 18th that it had decided to invest $250 million in Brazos Midstream Holdings, a North American shale oil and gas G&P (Gathering & Processing) company, at a board meeting.
G&P refers to the Gathering service business, which gathers natural gas produced from gas fields and transports it through pipelines, and the Processing service business, which removes impurities from the transported natural gas and processes it to make it suitable for transportation and sale to end consumers.
This equity investment will be made through Plutus Capital, SK Corporation's US subsidiary. The company stated, "Amidst the shale oil boom and high oil prices, SK Corporation's investment in a high-growth company in the Permian region, the largest U.S. production region, has enabled it to expand its global energy business and secure profits." The company added, "Last year, SK Corporation invested in Eureka, a U.S. shale gas G&P company, marking the beginning of its full-scale investment in the global energy sector. Through this investment, we expect to generate synergies with our existing energy businesses and create a major revenue stream for SK's North American operations."
Source: Chosun Biz)