A $1 Billion Pipeline Purchase

Scott Detrow

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Scott Detrow is a congressional correspondent for NPR. He also co-hosts the NPR Politics Podcast.

Detrow joined NPR in 2015 to cover the presidential election. He focused on the Republican side of the 2016 race, spending time on the campaign trail with Donald Trump, and also reported on the election's technology and data angles.

Detrow worked as a statehouse reporter for member stations WITF in Harrisburg, Pennsylvania, and KQED in San Francisco, California. He has also covered energy policy for NPR's StateImpact project, where his reports on Pennsylvania's hydraulic fracturing boom won a DuPont-Columbia and national Edward R. Murrow Award in 2013.

April 10, 2012 | 1:30 PM

Scott Detrow / StateImpact Pennsylvania

A natural gas pipeline being dug in Greene County

Got $1 billion laying around? You could buy Instagram with the cash. Or, as drilling company Penn Virginia has done, you could purchase the Chief Gathering pipeline company.
More from the AP:

Penn Virginia said on Tuesday it is buying the Chief Gathering pipeline business from its parent Chief E&D Holdings LP. It expects to finance the transaction with committed equity and debt.
The $1 billion purchase price will be paid in cash and $200 million in special units.
William H. Shea Jr., CEO of Penn Virginia’s general partner, said in a statement that by the end of 2013 the Radnor, Pa., company’s midstream division will make up nearly 75 percent of the company’s adjusted earnings. The unit currently accounts for 40 percent to 45 percent of Penn Virginia’s adjusted earnings.