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

EIA: Natural Gas Prices Stay Flat

Natural gas prices varied slightly over the report week (Aug. 19 to Aug. 26), but were mostly flat at most market locations, according to the U.S. Energy Information Administration.

Vortex-Shedding Pulsation Testing For Piping Systems (Part 2)

Vortex-Shedding Pulsation Testing For Piping Systems (Part 1)

Proteo - Advanced Diagnostic And Protection Systems For Centrifugal Pumps

This paper presents Proteo, a centrifugal pump model-based control system that ensures energy benefits from a variable speed drive (VSD) technique.

Pumping Up The FPSO Sector

Sulzer provides pump products for FPSOs, especially custom designs that can endure severe conditions on the high seas.