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American Midstream acquires nat gas gathering system, to offer 3.4M units

  • American Midstream Partners (AMID) agrees to acquire a ~120-mile natural gas gathering and redelivery system in the Eagle Ford shale from a subsidiary of Penn Virginia (PVA) for ~$100M.
  • Upon closing the acquisition, AMID also will enter into a long-term, fee-based gathering agreement where PVA will dedicate for 25 years all current and future natural gas production from the areas served by the system.
  • To help pay for the deal, AMID announces a public offering of 3.4M of its common units.
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