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Along with its Q4 results, Western Gas (WES) announces it's buying a 33.75% interest in...

  • Wednesday, February 27, 5:58 PM ET
    Along with its Q4 results, Western Gas (WES) announces it's buying a 33.75% interest in Marcellus shale gas gathering systems from Anadarko (APC) for $490M, and a similar interest in Marcellus gathering systems from Chesapeake (CHK) for $133.5M. The assets have a combined throughput of over 1.2 Bcf/d. WES plans to to finance the purchases with $220M in cash on hand, credit facility borrowings, and the issuing of 449K shares at an implied price of $54.55. (PR)
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    These oil/gas producers are slowly shooting themseves in the foot. Don't they know that you can have all the ammo in the worldbut it is worthless without the gun toshoot it. Why do they naively keep on selling their share of the delivery system? Sounds like they're a tad in need of some cash--ya think!
    28 Feb, 11:32 AM Reply Like
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