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Stock Market & Financial Investment News

News Breaks
February 3, 2014
08:08 EDTPVA, AMIDAmerican Midstream closes Eagle Ford natural gas gathering system acquisition
American Midstream Partners (AMID) announced that it completed the acquisition of an approximate 120-mile natural gas gathering and redelivery system located in the oil window of the Eagle Ford shale from a subsidiary of Penn Virginia (PVA). The acquisition was announced on January 22 and includes a long-term, fee-based gathering agreement. The system is currently flowing more than 40 million cubic feet per day between sales volumes and gas lift, with a significant ramp in volumes expected throughout 2014 and thereafter. Penn Virginia expects volumes to triple from current operating levels by mid-2015. The acquisition is expected to be accretive to American Midstreamís expected distribution level for 2014. As a result of the acquisition, management intends to recommend to the board of directors an increase in the Partnershipís quarterly distribution of approximately 2% beginning with the distribution for 3Q14, in addition to managementís intent to recommend to the board an approximate 2% increase for the 1Q14 distribution associated with the recently closed Blackwater acquisition.
News For AMID;PVA From The Last 14 Days
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April 16, 2015
10:10 EDTPVAPenn Virginia sale process said to stall, dealReporter says
Penn Virginiaís sale process has stalled due to valuation issues that have not been bridged by the seller and potential buyers, reported dealReporter, citing industry bankers, according to contacts. Penn Virginia shares are down 2.9% to $7.76 in early trading.

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