Once you sort through all of the subsidiaries of subsidiaries of subsidiaries, you'll find this news from a press release we spotted this morning: PennEnergy Resources has sold a gathering pipeline system in western Pennsylvania, called Pine Run Midstream, to a joint venture partnership between venture capital firm Energy Spectrum Partners (based in Texas) and utility/pipeline company UGI (based in Pennsylvania). Sale price: $205 million. You'll see in the press release below that a company called Stonehenge III (a subsidiary of Stonehenge Energy Resources, which is itself a portfolio company of Energy Spectrum Partners) will own the majority of the Pine Run Midstream gathering system at 51%, while UGI Energy Services (UGIES), a subsidiary of UGI, will own 49%. Pine Run Midstream is a 43-mile gathering pipeline located in Butler and Armstrong counties in PA. The reason for the purchase is obvious when you view the map below: As you can see, both UGI and Stonehenge own other p
Kris B. Mamula
Associated Press
ROCHESTER, Pa. (AP) – Ten years of planning, ten years of want ads and hope and worry ended one day in October when Don Kretschmann realized it wasn t going to work; no one was going to step in.
This was going to be the last harvest at Kretschmann Family Organic Farm.
Come spring, the Beaver County farm will be idle for the first time since he first turned the soil there in the spring of 1979. Mr. Kretschmann is retiring after failing to find someone to take over his 80-acre operation. I just thought somebody would come, the 71-year-old self-taught farmer said. Nothing worked out there unless some miracle happens.
Come spring, the Beaver County farm will be idle for the first time since he first turned the soil there in the spring of 1979. Don Kretschmann, 71, is retiring after failing to find someone to take over his 80-acre operation.
With no successor to till the land, farm s days numbered sfchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfchronicle.com Daily Mail and Mail on Sunday newspapers.