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Stock Market & Financial Investment News

News Breaks
February 28, 2014
08:35 EDTEXH, ACMP, EXLP, CHKExterran Partners to acquire assets from Chesapeake subsidiary
Exterran Partners, L.P. (EXLP) and Exterran Holdings, Inc. (EXH) announced that Exterran Partners has entered into an agreement to acquire natural gas compression assets from MidCon Compression, L.L.C., a subsidiary of Chesapeake Energy Corporation (CHK), for approximately $360M. The assets to be acquired include 334 compression units, with a total horsepower of approximately 440,000, which currently are being used to provide compression services to Access MLP Operating, L.L.C., a subsidiary of Access Midstream Partners LP (ACMP), the largest gathering and processing master limited partnership in the United States as measured by throughput volume. In connection with the acquisition, Exterran Partners and Access have entered into a seven-year contract operations services agreement, to be effective as of the closing, under which Exterran Partners will provide contract compression services to Access in regions including the Permian, Eagle Ford, Barnett, Anadarko, Mississippi Lime, Granite Wash, Woodford, Haynesville and Niobrara Basins. The transaction is expected to be accretive to distributable cash flow. In connection with and upon the closing of the transaction, the Omnibus Agreement between Exterran Partners and Exterran Holdings will be amended to increase the cap on selling, general and administrative costs from $15.0 million per quarter to $17.7 million per quarter. Exterran Holdings and Exterran Partners also have entered into an equity commitment pursuant to which Exterran Holdings has agreed to purchase $150.0 million of newly issued common units from Exterran Partners to fund a portion of the purchase price of the acquisition under certain circumstances if Exterran Partners does not obtain equity capital markets financing prior to the closing date of the acquisition. The transaction is subject to closing conditions and is expected to close in the second quarter 2014.
News For EXLP;EXH;CHK;ACMP From The Last 14 Days
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December 17, 2014
08:53 EDTEXHExterran upgraded to Focus List from Outperform at Howard Weil
December 10, 2014
16:44 EDTCHKOn The Fly: Closing Wrap
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07:45 EDTEXLPWells Fargo to hold a symposium
2014 Wells Fargo Energy Symposium is being held in New York on December 9-10; with webcasted company presentations to begin on December 10 at 8 am; not all company presentations may be webcasted. Webcast Link
December 9, 2014
12:30 EDTACMPWells Fargo to hold a symposium
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