Exterran Buys Midcon Compression Assets
Units mostly are in Fayetteville Shale
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.