DTE Energy CompanyNYSE
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  • Mon, Sep. 26, 5:23 PM
    • DTE Energy (NYSE:DTE) agrees to acquire midstream natural gas assets from M3 Midstream and Vega Energy Partners for a combined ~$1.3B, increasing its presence in the Appalachian basin.
    • DTE says it will buy all of Appalachia Gathering System, located in Pennsylvania and West Virginia, and 40% of Stonewall Gas Gathering, in West Virginia, from M3, as well as a 15% stake in Stonewall Gas from Vega Energy Partners.
    • The assets, which gather natural gas produced in the Appalachia region and provide access to multiple markets, will become part of the DTE's non-utility gas storage and pipeline business.
    • DTE says the transactions will not materially change its current business mix.
    | Mon, Sep. 26, 5:23 PM
  • Nov. 19, 2012, 4:54 PM

    Atlas Resource Partners (ARP) agrees to acquire Barnett Shale and Marble Falls assets in Texas from DTE Energy (DTE) for ~$255M. ARP increases 2013 distribution guidance and expects immediately accretive cash flow from the added oil and natural gas production, which averaged ~3,800 boe/day YTD. To fund the deal, ARP announces a public offering of 6.8M common units. ARP -2.9% AH.

    | Nov. 19, 2012, 4:54 PM