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Stock Market & Financial Investment News

News Breaks
February 28, 2014
09:02 EDTEXH, ACMP, EXLP, CHKChesapeake announces midstream compression asset sales
Chesapeake Energy Corporation (CHK) announced the execution of two agreements to sell midstream compression assets for total proceeds of approximately $520M. Access Midstream Partners, L.P. (ACMP) and Exterran Partners, L.P. (EXLP) have agreed to purchase an aggregate of 437 compression units and related assets from Chesapeake subsidiary MidCon Compression, L.L.C. in two separate transactions which, subject to certain closing conditions, are expected to close before the end of the 2014 second quarter. Access Midstream Partners has agreed to purchase 103 compression units with a combined capacity of approximately 200,000 horsepower for $160M. The units service gathering systems in Ohio, Pennsylvania and West Virginia. Exterran Partners has agreed to purchase 334 compression units with a combined capacity of approximately 440,000 horsepower for approximately $360M. The units service gathering systems in Arkansas, Louisiana, Oklahoma, Texas and Wyoming. Chesapeake’s CFO, Domenic J. Dell’Osso, Jr., commented, “Chesapeake continues to streamline its overall portfolio to focus on our core assets. These sales are consistent with this strategy and will generate more than $500M towards improving our balance sheet, while having minimal impact on our 2014 cash flow guidance.”
News For EXLP;EXH;CHK;ACMP From The Last 14 Days
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April 22, 2015
10:25 EDTCHKNomura U.S. energy analysts hold an analyst/industry conference call
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07:13 EDTCHKChesapeake initiated with a Reduce at Nomura
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April 20, 2015
10:43 EDTCHKStocks with call strike movement; AAL CHK
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07:06 EDTEXH, EXLPExterran Partners acquires compression assets from Exterran Holdings for $102.3M
Exterran Holdings, Inc. (EXH) and Exterran Partners, L.P. (EXLP) announced that Exterran Partners has acquired assets from Exterran Holdings for consideration valued at $102.3M, including customer contracts serving 60 customers together with 244 compressor units used to provide compression services under those contracts. Those compressor units represent approximately 151,000 horsepower of compression and approximately 4 percent of the combined U.S. contract operations business of Exterran Holdings and Exterran Partners. In addition, the acquisition includes 179 compressor units comprising approximately 66,000 horsepower previously leased from Exterran Holdings to Exterran Partners. The consideration paid to Exterran Holdings’ affiliates consisted entirely of Exterran Partners’ equity, composed of 3,963,138 common units and 80,341 general partner units. The transaction was approved by the conflicts committee of the board of directors of Exterran Partners’ managing general partner. The conflicts committee, which is composed entirely of independent directors, retained independent legal and financial advisors to assist it in evaluating the transaction.
April 14, 2015
10:31 EDTCHKAELP says McClendon did not approve Chesapeake settlement
Aubrey McClendon and American Energy Partners, LP responded to the announcement by American Energy – Utica and The Energy & Minerals Group that Chesapeake Energy (CHK) has dismissed AEU and the John Doe Defendants 1-20 from the lawsuit filed by Chesapeake on February 17. The statement read, "AEU apparently chose to settle with Chesapeake before any discovery was taken, evidently for the business purpose of mitigating further damage that Chesapeake's litigation has been having on AEU's business and financing activities. AEU has the right to resolve the case in this fashion, but this resolution should not be mistaken as reflecting an informed view of the merits of Chesapeake's claims or a concession of any liability by any party to Chesapeake. Although Mr. McClendon is a director and the single largest non-institutional shareholder in AEU, he did not approve the settlement and neither he nor AELP were advised of the negotiated terms of this settlement. AELP and Mr. McClendon will continue their efforts to have the dispute arbitrated as required by Mr. McClendon's agreements with Chesapeake. As he will show in the appropriate forum, Mr. McClendon rightfully possesses an extensive array of information about more than 16,000 wells, and the related leasehold acreage and future wells, he jointly owns with Chesapeake, including land, well, title, accounting, geological, engineering, reservoir, operating, marketing, and performance information. Mr. McClendon's well-documented agreements with Chesapeake gave him the right to own and use this information for his own purposes, including sharing it with his employees, contractors, advisors, consultants and affiliated entities."
10:16 EDTCHKAmerican Energy - Utica dismissed from Chesapeake lawsuit
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