Along with its Q4 results, Western Gas (WES) announces it's buying a 33.75% interest in...
Wednesday, February 27, 5:58 PM ETAlong 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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