$230M Blacks Fork/Emigrant Trail deal closes

GREEN RIVER – A pair of natural-gas processing facilities in southwest Wyoming picked up new partial owners last week in a $230 million transaction that closed out a deal inked in May.

The sale essentially drops down 40 percent of ownership of Green River Processing – including the three-plant Blacks Fork processing complex and the Emigrant Trail processing plant – from QEP Resources Inc. to new subsidiary QEP Midstream Partners LP.

“It’s basically a mechanism of growth for QEPM,´ said spokesman Brent Rockwood in a recent phone interview. “And it allows QEP to really monetize the assets.”

With the majority owner unchanged after…