By Dallas Business Journal

Regency Energy Partners says it has sold natural gas pipeline and processing assets for $70 million to an affiliate of Tristream Energy LLC.

Dallas-based Regency (NYSE: RGNC) said it will use the proceeds of the deal to fund future growth opportunities.

⿿The sale of Regency⿿s east Texas assets allows us to place greater focus on the expansion of core assets within higher-growth regions, including several of the major shale plays,⿝ said Byron Kelley, president and chief executive officer of Regency.

The pipeline assets sold are in Wood, Van Zandt, and Henderson counties. They include 371 miles of pipeline, a compression plant in Myrtle Springs and processing facilities in Eustace.

Regencyâ¿¿s general partner was acquired by Energy Transfer Equity (NYSE: ETE) in May.

Tristream Energy is a private natural gas pipeline company based in Sugar Land. It is owned in part by Haddington Energy Partners III LP, a Houston private equity fund.

Copyright 2010 American City Business Journals

http://dallas.bizjournals.com/dallas/stories/2010/07/12/daily35.html?ana=thestreet

Copyright bizjournals.com 2010

More from Commodities

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Gold to Skyrocket as Italian Rebellion Unfolds

Gold to Skyrocket as Italian Rebellion Unfolds