Keyera Corp. said July 7 it agreed to acquire an additional 35% ownership interest in the Alder Flats Plant from Bellatrix Exploration Ltd. (NYSE: BXE) for C$112.5 million (US$86.2 million).

The Alder Flats Plant, which is located in west central Alberta, currently has a licensed capacity of 110 million cubic feet per day (MMcf/d). A second phase is expected to have a design inlet capacity of 120 MMcf/d.

Phase two's target onstream date is in the first half of 2018. Bellatrix is responsible for constructing phase two and funding 60% of the costs, the release said.

Keyera's acquisition includes additional working interest in the facilities, a 10-year take-or-pay commitment, an area dedication agreement and a prepayment of 35% of the estimated future construction costs of the plant's second phase.

Upon closing, Keyera will own 70% of the facilities. Bellatrix will continue to be an owner and the operator.

The acquisition is subject to typical closing conditions and is expected to close in August.