HOUSTON--(BUSINESS WIRE)--Nov. 10, 2009--
Exterran Holdings, Inc. (NYSE:EXH) and Exterran Partners, L.P.
(NASDAQ:EXLP) today announced that Exterran Partners has completed its
previously announced acquisition of certain assets from Exterran
Holdings for approximately $143 million, excluding transaction costs.
The acquired assets included contracts and equipment serving 18
customers, together with approximately 890 compressor units used to
provide compression services under those contracts, representing
approximately 270,000 horsepower, or approximately 6% (by available
horsepower) of the combined U.S. contract operations business of
Exterran Holdings and Exterran Partners.
Exterran Partners financed the acquisition with approximately $57
million of borrowings under its new $150 million asset-backed
securitization facility and existing revolving credit facility and the
issuance of 4,739,927 common units and 96,601 general partner units to
Exterran Holdings.
The asset-backed securitization facility, which was closed last month,
was arranged by Wells Fargo Securities, LLC and provided by Wachovia
Bank, N.A., a wholly-owned subsidiary of Wells Fargo & Company.
About Exterran Holdings and Exterran Partners
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
and its over 10,000 employees have operations in over 30 countries.
Exterran Partners, L.P. provides natural gas contract operations
services to customers throughout the United States. Exterran Holdings
indirectly owns a majority interest in Exterran Partners.
For more information, visit www.exterran.com.
Source: Exterran Holdings, Inc. and Exterran Partners, L.P.
Exterran
Investors:
David Oatman, 281-836-7035
Media:
Susan
Nelson, 281-836-7297