Seeking Alpha

Exterran Partners to acquire assets from Chesapeake unit for $135M

  • Exterran Partners (NASDAQ:EXLP) agrees to acquire natural gas compression assets from Chesapeake Energy (NYSE:CHK) subsidiary MidCon Compression for ~$135M.
  • The assets include 162 compression units, most of which are being used to provide compression services to BHP Billiton in Arkansas' Fayetteville Shale; as part of the deal, the contract operations services agreement with BHP will be assigned to EXLP.
  • EXLP says the deal will add immediately to distributable cash flow per unit.
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