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News Breaks | | | | February 5, 2013 | | 16:44 EDT |  | MWE | MarkWest Energy, EMG provide funding, development updates for Uitica Shale
MarkWest Energy and The Energy & Minerals Group, or EMG, announced that as a result of their continued success in developing a world-class midstream system in the Utica Shale, the parties have executed a term sheet, which increases EMG's initial capital contribution in MarkWest Utica EMG by up to $450M, bringing their total initial contribution to up to $950M. The transaction does not modify the ownership interest levels or quarterly distribution percentages as set forth in the existing L.L.C. Agreement. MarkWest and EMG also executed an amendment to the L.L.C. Agreement that provides for MarkWest to contribute up to $150M to the Utica Joint Venture on a short-term basis. The anticipated additional capital contributions by EMG will allow the Utica Joint Venture to continue to rapidly expand its presence throughout the Utica Shale and keep pace with the significant increase in planned drilling activity throughout the region. MarkWest's 2013 capital expenditure forecast remains unchanged in a range of $1.4B-$1.9B. | |
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News For MWE From The Last 14 Days Check below for free stories on MWE the last two weeks. |
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| May 10, 2013 | | 10:00 EDT |  | MWE | On The Fly: Analyst Upgrade Summary
 Subscribe for More Information | | | 07:01 EDT | | MWE | MarkWest Energy upgraded to Outperform from Neutral at Credit Suisse
Subscribe for More Information | | | May 9, 2013 | | 11:11 EDT |  | MWE | High option volume stocks: DANG DLR CRL MWE AFFY
Subscribe for More Information | | | May 8, 2013 | | 16:30 EDT | | MWE | MarkWest Energy acquires granite was assets from Chesapeake for $245M
Subscribe for More Information | | | 16:29 EDT |  | MWE | MarkWest Energy reports Q1 EPS (12c), may not compare to consensus 27c
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