Regency closes on acquisition of Eagle Rock Energy midstream business Regency Energy Partners (RGP) announced that it has closed on its previously announced acquisition of the midstream business of Eagle Rock Energy (EROC) for a combination of cash, Regency common units and assumption of indebtedness. Regency issued approximately 8.2M Regency common units to Eagle Rock and assumed approximately $500M of outstanding Eagle Rock senior notes and exchanged those notes into Regency senior notes. Regency will fund the cash consideration with proceeds from a $400M private placement of Regency common units to a subsidiary of Energy Transfer Equity (ETE), the owner of Regency’s general partner, and borrowings under Regency’s revolving credit facility.
Wells 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