Ute Energy LLC and Anadarko Petroleum Corp. said Friday that they have formed a company to operate a gas processing and delivery hub for the Greater Natural Buttes area of Utah's Uinta Basin.

The new company, Chipeta Processing LLC, owns an existing refrigeration-processing facility and is building a second cryogenic-processing facility that is scheduled for completion in the first quarter of 2009, Ute Energy said in a news release.

Ute Energy is an investment of Quantum Energy Partners, Quantum Resources Management and the Ute Indian Tribe of the Uintah-Ouray Indian Reservation. Anadarko, based in The Woodlands, Texas, is one of the world's largest oil and natural-gas exploration and production companies.

The processing and delivery hub will serve Anadarko's and the Ute Tribe's gas reserves in the Uinta Basin. Chipeta also plans to pursue third-party service opportunities with other Uinta Basin producers.