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