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UGI, Tenaska Form JV To Develop Marcellus

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January 15, 2013

UGI Corp. (NYSE: UGI) has entered agreements with Tenaska Resources LLC, a natural gas exploration and production affiliate of independent energy company Tenaska, to jointly develop gas resources in the Marcellus shale region in north-central Pennsylvania.

UGI Energy Services Inc. will construct and operate 20 miles of new gathering pipelines and related gas processing and compression facilities for wells that Tenaska intends to drill in Potter County, Pa., with the first phase of construction targeted for late 2013 or early 2014.

The initial investment in the proposed gas gathering system ...

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