HOUSTON--( BUSINESS WIRE )--Exterran Partners, L.P. (NASDAQ:EXLP) and Exterran Holdings, Inc. (NYSE:EXH) today announced that Exterran Partners has completed its previously announced acquisition of natural gas compression assets from MidCon Compression, L.L.C., a subsidiary of Chesapeake Energy Corporation (NYSE:CHK), for approximately $135 million.
The assets acquired include 162 compression units, with a total horsepower of approximately 110,000, which are currently being used to provide compression services in Arkansas’ Fayetteville Shale.
The acquisition was funded using credit available under Exterran Partners’ revolving credit facility.
The Omnibus Agreement between Exterran Partners and Exterran Holdings was not amended to adjust the caps on operating costs or selling, general and administrative costs as a result of this transaction.
Exterran Partners, L.P., a master limited partnership, is the leading provider of natural gas contract compression services to customers throughout the United States. Exterran Holdings, Inc. owns an equity interest in Exterran Partners, including all of the general partner interest. For more information, visit www.exterran.com .
Exterran Holdings, Inc. is a global market leader in full service natural gas compression and a premier provider of operations, maintenance, service and equipment for oil and gas production, processing and transportation applications. Exterran Holdings serves customers across the energy spectrum—from producers to transporters to processors to storage owners. Headquartered in Houston, Texas, Exterran has approximately 10,000 employees and operates in approximately 30 countries. Exterran Holdings owns an equity interest, including all of the general partner interest, in Exterran Partners.
Source: Exterran Holdings, Inc. and Exterran Partners, L.P
Date: Aug 8, 2014