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Stock Market & Financial Investment News

News Breaks
July 14, 2014
07:04 EDTEXLP, EXH, CHK, BHPExterran Partners to acquire natural gas compression assets from MidCon
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 $135M. The assets to be acquired include 162 compression units, with a total horsepower of approximately 110,000. The majority of the units currently are being used to provide compression services to BHP Billiton Petroleum (BHP) in Arkansas’ Fayetteville Shale. In connection with the acquisition, the contract operations services agreement with BHP Billiton Petroleum will be assigned to Exterran Partners effective as of the closing. “We expect the transaction to be immediately accretive to distributable cash flow per limited partner unit,” said David Miller, Senior Vice President and CFO of Exterran Partners’ managing general partner. “As a result of this acquisition, we expect to recommend to the Board of Exterran Partners’ managing general partner that Exterran Partners increase the distribution to limited partner unit holders by an incremental $0.02 per limited partner unit on an annualized basis, or an incremental $0.005 per limited partner unit on a quarterly basis, beginning in the quarter that the transaction closes.” Exterran Partners and Exterran Holdings do not expect that the Omnibus Agreement between Exterran Partners and Exterran Holdings will be amended to adjust the caps on operating costs or selling, general and administrative costs as a result of this transaction. The acquisition, which is expected to be financed using credit available under Exterran Partners’ revolving credit facility, is subject to closing conditions and is expected to close in the third quarter 2014.
News For EXLP;EXH;CHK;BHP From The Last 14 Days
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July 24, 2014
06:16 EDTBHPBHP Billiton looks to ramp up iron ore output, WSJ reports
Despite declining prices, BHP Billiton is planning to continue to expand iron ore production, the Wall Street Journal reports. Reference Link
July 23, 2014
18:53 EDTBHPBHP Billiton, Anglo seek buyers for manganese assets, WSJ reports
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15:17 EDTBHPBHP Billiton, Anglo seek buyers for manganese assets, DJ says
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July 20, 2014
11:58 EDTCHKCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 18, 2014
08:31 EDTBHPPotash Corp BG Mosaic could become BHP takeover targets, says Bernstein
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July 17, 2014
07:51 EDTBHPBHP Billiton urges India to focus on infrastructure, not mining, WSJ says
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July 14, 2014
07:04 EDTEXH, CHK, BHP, EXLPExterran Partners to acquire natural gas compression assets from MidCon
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