DD Fanatics

[reaper247]

Norse Energy pipeline sold?

Norse Energy owns 320 miles of pipeline in the Marcellus Shale formation.

http://www.norsepipeline.com/locations.html

Rumor is that the Pipeline has been sold. Details are currently unavailable because the website is down.

http://documents.dps.state.ny.us/public/Common/ViewDoc.aspx?DocRefId=%7B07F447A0-52C1-4CD1-BCF4-90286E542AFF%7D

The Norwegian guys posted some info on a message board about it.

http://forum.hegnar.no/thread.asp?id=1876511

post by: Guest (07/01/1911 22:16), read 506 times
Ticker: NEC
Norse sells pipeline
CONCLUSION

WHEREFORE, for the above-stated reasons,

Applicants Norse Energy Holdings, Inc. and
Appalachian Transmission and Marketing, LLC respectfully request that the Commission:
? Approve the transfer and sale all of the ownership interests of Norse Pipeline, LLC
and Nornew Energy Supply, Inc. from Norse Energy Holdings, Inc to Appalachian
Transmission and Marketing, LLC;

No further details are available from what I can see.

Looking at a recent pipeline sale in the area, a 75 mile pipeline with compressor stations recently sold for $150M.

http://energypipelinenews.blogspot.com/2010/11/williams-partners-expanding-in.html

Tuesday, November 23, 2010
TULSA, Okla. - Williams Partners L.P. (NYSE: WPZ) announced on Nov. 18 that it is significantly expanding its midstream business in Pennsylvania's Marcellus Shale.
The partnership has agreed to acquire Cabot Oil & Gas Corp.'s midstream assets located in Susquehanna County, Pa., for $150 million. The Cabot assets include some 75 miles of gathering pipelines and two compressor stations.
NSEEF and NSEEY could be interesting to watch next week.

All IMO and FWIW.