Energy
A division of NGAS Resources (NGAS) completed the acquisition of a 116-mile gas-gathering system from Duke Energy (DUK).
The system spans parts of southeastern Kentucky and southwestern Virginia and ties into Duke Energy's East Tennessee Natural Gas interstate pipeline system, NGAS said Tuesday. "Our pipeline and gathering system is a key asset and competitive advantage for us, and we are very excited to add the Duke Energy pipeline to our already extensive 300 miles of gathering system," said William Daugherty, president and CEO of NGAS. "The system acquired ensures deliverability from our core focus area in the Appalachian Basin to the natural gas market in the eastern U.S., as well as enhances our competitive position in the region." Shares of NGAS were up 2 cents at $7.33.TheStreet Premium Services
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