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Stock Market & Financial Investment News

News Breaks
May 5, 2014
10:06 EDTFGPFerrellgas acquires Viking Propane, terms not disclosed
Ferrellgas announced the acquisition of Viking Propane. Specific terms of the transaction, which the company indicates will be immediately accretive, were not disclosed.
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September 2, 2014
09:09 EDTFGPFerrellgas Partners LP acquires two facilities
Ferrellgas Partners announced a definitive agreement to acquire two salt water disposal, or SWD, wells in the Eagle Ford Shale region of south Texas from C&E Production and its affiliates, based in Bryan, Texas. The acquisition will increase the partnership's SWD wells in the region to eight. Ferrellgas established its midstream division in May 2014 with its acquisition of Sable Environmental. The C&E assets will be managed with other existing SWD facilities under the Sable platform, increasing the daily operational permitted capacity 33% to 180,000 barrels. In addition, Ferrellgas will have the contractual right to acquire an additional SWD well from C&E affiliates in the region in the future. Associated with the transaction, equity holders of the C&E SWD assets will acquire $12M of Ferrellgas common units. Ferrell Companies, Inc., the parent company of the partnership's general partner, will also acquire $30M of Ferrellgas common units. Proceeds from these offerings will be used to permanently finance this transaction as well as other recent growth initiatives.

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