Edit ModuleShow Tags

Exterran Buying Some MidCon Assets

Deal includes 334 compression units


Published:

Exterran Partners is acquiring 334 compression units totaling 440,000 hp (328 MW) from MidCon Compression LLC, a subsidiary of Chesapeake Energy Corp., for US$360 million.

The assets are being used to provide compression services to Access MLP Operating LLC, a subsidiary of Access Midstream Partners LP, the largest gathering and processing master limited partnership in the nation in terms of throughput volume.

In connection with the acquisition, Exterran Partners will provide Access contract compression services for 7 years in areas of the Permian and Niobrara basins and in the Eagle Ford, Barnett, Anadarko, Mississippi Lime, Granite Wash, Woodford and Haynesville shale areas.

Exterran CEO Brad Childers said, “With this transaction, we continue to deliver on our strategy of growing our core contract operations business. Because the units we are acquiring are highly standardized and average less than five years in age, the acquisition is also consistent with our strategy to modernize and standardize our existing fleet.”

The transaction is expected to close in the second quarter.

Edit ModuleShow Tags

Archive »Recent Articles

MCO-I Coming To America

Mitsubishi Heavy Industries Compressor International Corp. (MCO-I) has started operating in North America at its facility in Pearland, Texas, south of Houston.

EIA: Natural Gas Prices Increase In Most Locations

Most market locations saw natural gas prices jump during the April 15 to April 22 report week, according to the U.S. Energy Information Administration.

Valerus Recognized For Safety Performance

Valerus received a Gas Processors Suppliers Association (GPSA) Company Safety Award at the 2015 GPSA annual convention in San Antonio, Texas.

GE Adds Propak To Power Packager Program

GE’s Distributed Power business has expanded its Gas Compression Power Packager program in Canada by adding Propak Systems as a new participant at the platinum level.

Nasmyth Group Opens North American Headquarters

Nasmyth Group, a global supplier of precision engineering, products and services, opened its regional North American headquarters.