Voyager Midstream Holdings, a Pearl Energy Investments portfolio company, has acquired a non-operated interest in the 254-mile Panola Pipeline from Phillips 66.

The Panola Pipeline, operated by Enterprise Products Partners, transports Y-Grade natural gas liquids (NGLs) from Panola County to Mont Belvieu, Texas.

Voyager’s acquisition aligns with its existing operations in east Texas and north Louisiana, where it owns and operates approximately 550 miles of natural gas pipelines. 

The company also has a cryogenic gas processing capacity of 400 million cubic feet per day and a liquids fractionation capacity of 12,000 barrels per day.

"Panola Pipeline is a critical NGL pipeline connecting the major east Texas gas processing complexes and Gulf Coast demand markets," said Will Harvey, Voyager's chief executive officer, in a statement. 

"We are excited to work alongside our partners in Panola Pipeline to safely transport liquids to satisfy growing demand for NGLs along the Gulf Coast."

Harvey added that the acquisition "strengthens our ability to provide cost-effective and reliable service to our customers."

Voyager also manages the Carthage Hub, a natural gas trading and delivery hub with a capacity exceeding one billion cubic feet per day, which provides interconnectivity to various U.S. markets, including liquefied natural gas markets in Texas and Louisiana.

The acquisition follows Phillips 66's divestment of its east Texas natural gas gathering and processing assets to Voyager in September of last year.

In addition to the pipeline acquisition, Voyager has secured a credit facility agreement with the Bank of Oklahoma, which, combined with equity commitments from Pearl Energy Investments, will support the company's growth initiatives.

Phillips 66's divestment is part of its strategy to monetize non-core assets and streamline operations.