HOUSTON--(BUSINESS WIRE)--Apr. 10, 2014--
Exterran Partners, L.P. (NASDAQ:EXLP) and Exterran Holdings, Inc.
(NYSE:EXH) today announced that Exterran Partners has completed its
previously announced acquisition of compression assets from MidCon
Compression, L.L.C., a subsidiary of Chesapeake Energy Corporation
(NYSE:CHK) for approximately $360 million.
The acquired assets include 337 compression units, with a total
horsepower of approximately 440,000, which currently are being used to
provide compression services to Access MLP Operating, L.L.C., a
subsidiary of Access Midstream Partners LP (NYSE:ACMP).
In connection with the acquisition, Exterran Partners and Access have
entered into a seven-year contract operations services agreement under
which Exterran Partners will provide contract compression services to
Access in regions including the Permian, Eagle Ford, Barnett, Anadarko,
Mississippi Lime, Granite Wash, Woodford, Haynesville and Niobrara
Basins.
The asset acquisition was funded using the proceeds of Exterran
Partners’ March 2014 equity offering and a portion of its March 2014
debt offering.
The Omnibus Agreement between Exterran Partners and Exterran Holdings
has been amended to increase the cap on selling, general and
administrative costs from $15.0 million per quarter to $17.7 million per
quarter.
About Exterran Partners
Exterran Partners, L.P. is the leading provider of natural gas contract
operations 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.
About Exterran Holdings
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.
Exterran Holdings, Inc. and Exterran Partners, L.P.
Media:
Susan
Moore, 281-836-7398
or
Investors:
David Oatman,
281-836-7035
David Miller, 281-836-7895