Edit ModuleShow Tags

Exterran Buys Midcon Compression Assets

Units mostly are in Fayetteville Shale


Published:

Exterran Partners is acquiring another 162 compression units, totaling 110,000 hp (82 MW), from MidCon Compression for US$135 million.

Most of the units provide contract compression services for BHP Billiton Petroleum in the Fayetteville Shale play of Arkansas. Exterran will assume the contract services work from MidCon, a subsidiary of Chesapeake Energy Corp. The deal is expected to close in the third quarter.

“We are pleased to acquire an additional fleet of modern, highly standardized assets from MidCon and continue to deliver on our strategy of growing our core contract operations business,” said Brad Childers, Exterran’s President and CEO.

Last April, Exterran completed a US$360 million deal to buy 334 units totaling 440,000 hp (328 MW) from MidCon. Those compressors were in the Permian and Niobrara basins and in the Eagle Ford, Barnett, Anadarko, Mississippi Lime, Granite Wash, Woodford and Haynesville shale areas.

Edit ModuleShow Tags

Archive »Recent Articles

EIA: Most Locations See Nat Gas Price Drop

Natural gas spot prices dropped at most locations during the July 13 to July 20 report week, according to the U.S. Energy Information Administration (EIA).

Petrobras Looks To Scale Back

Petrobras, a Brazilian oil corporation, plans to sell or share control of its pipelines and open its liquefied natural gas (LNG) terminals to third parties as part of a plan to scale back its role in the state’s natural gas industry.

J-W Energy Exits Midstream, Upstream Markets

J-W Energy Co. has sold all of its oil and gas and midstream assets to affiliates of Aethon United LP, signaling an end to the company’s run in the upstream and midstream markets.

Siemens To Power The Missing Link

Siemens received an order from the Trans Adriatic Pipeline consortium for six, 15 MW turbo compressor trains. The equipment will be used in the Trans Adriatic Pipeline (TAP), which is part of the Southern Gas Corridor in Europe.

Caterpillar Releases New Displays For Gas Compression Engines

Caterpillar Oil & Gas has introduced its latest operator interface displays for Cat gas compression engines.