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MarkWest Energy Partners (MWE) agrees to acquire Keystone Midstream Services from Stonehenge...

MarkWest Energy Partners (MWE) agrees to acquire Keystone Midstream Services from Stonehenge Energy Resources for $512M, giving the natural gas processor increased processing capacity in the Marcellus shale region of Pennsylvania. (also: earnings)
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Comments (5)
  • Mike Maher
    , contributor
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    Probably going to do an offering in the next few weeks to fund this. Also I find it strange that they didnt mention if it was accretive or not.
    8 May 2012, 09:05 AM Reply Like
  • mjp1805
    , contributor
    Comments (25) | Send Message
     
    Could the offering of a few months ago (?) be the source of funds for this new move? MWE sure seems to be on a most aggressive mission of growth.
    8 May 2012, 09:30 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2811) | Send Message
     
    That offering raised a little under $400 mil, and this deal is for $512. They have retained earnings and large credit lines, but also an aggressive growth budget this year. I'm looking to get in under $55, so I've got my fingers crossed an offering gets it there.
    8 May 2012, 10:24 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2811) | Send Message
     
    Not to toot my own horn, but there's the offering.
    8 May 2012, 04:44 PM Reply Like
  • mjp1805
    , contributor
    Comments (25) | Send Message
     
    Mike (Maher), I've been in MWE since 28, adding steadily since. I took advantage and added a bit with the dip on that last ($400mm) offering. I think you'll get your shot south of 55 - one way or another -- and then see us climb back to $60 down the road. To my (imperfect) mind, they seem to be doing a lot of the right things to position for solid growth. Good luck.
    8 May 2012, 01:12 PM Reply Like
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