GeoPetro acquires treatment plant

GeoPetro Resources Co. has announced the acquisition of a natural gas treatment plant and related gas gathering pipelines and related facilities from Madisonville Gas Processing LP (MGP). The effective date of the acquisition was 31 December 2008. The Plant is located in Madison County, Texas. The new owner of the Plant will be GeoPetro’s wholly owned, indirect subsidiary, Madisonville Midstream LLC. The Plant’s primary components consist of amine treaters, nitrogen rejection units, compressors and related equipment. Other assets acquired in the transaction include gathering lines, fuel lines, acid injection lines and rights of way. The Plant facilities were installed in order to treat and remove impurities associated with natural gas produced from the Rodessa Formation at the Madisonville Field. The expanded facilities have a designed capacity to treat 50 million cu/ft of natural gas per day, which, combined with the effective operational capacity of the current in-service facilities of 15 million cu/ft per day, will represent a total treating capacity of 65 million cu/ft of natural gas per day for the plant.
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