CHICAGO, May 25, 2016 /PRNewswire/ -- Citadel, a global investment firm, today announced that it has agreed to acquire a portfolio of natural gas pipeline transportation capacity through 2032 in the Western U.S. from WPX Energy. The acquisition is expected to close in the third quarter of 2016 and is subject to customary closing conditions and regulatory approvals.
Today's announcement, which follows the successful launch of the firm's physical natural gas business in 2014, underscores Citadel's commitment to expanding its presence in the natural gas market.
"We see natural gas transportation as a foundation for the growth of our physical business and are excited to be expanding in this market," said Mark Stainton, Head of Commodities at Citadel. "This transaction builds on our track-record of success in commodities and commitment to providing our investors with access to attractive opportunities in the energy space."
Citadel is a global investment firm built around world-class talent, sound risk management, and innovative leading-edge technology. For a quarter of a century, Citadel's hedge funds have delivered meaningful and measurable results to top-tier investors around the world, including sovereign wealth funds, public institutions, corporate pensions, endowments and foundations.
With an unparalleled ability to identify and execute on great ideas, Citadel's team of more than 675 investment professionals, operating from offices including Chicago, New York, Greenwich, San Francisco, London, Hong Kong and Shanghai, deploy capital across all major asset classes, in all major financial markets.
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