Oct. 28, 2014, 5:27 PM
- Western Gas Partners (WES, WGP) agrees to acquire Nuevo Midstream, a Delaware Basin gas gatherer and processor, for $1.5B.
- Nuevo's assets include a 300M cf/day cryogenic processing complex with an additional 400M cf/day of processing capacity scheduled to be in service in 2015, and 275 miles of gathering pipeline; more than 70% of Nuevo's gross margin is fee-based, and Western expects that following the acquisition more than 95% of its consolidated gross margin will be either fee-based or covered under its fixed-price agreements with Anadarko.
- Western expects the Nuevo acquisition to be accretive to its distributable cash flow per unit in 2015.
- Earlier: Q3 earnings
Feb. 27, 2013, 5:58 PMAlong 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) | 1 Comment
WES vs. ETF Alternatives
Western Gas Partners, LP is engaged in gathering, processing, compressing, treating and transporting natural gas, condensate, NGLs and crude oil for its subsidiariesas well as third-party producers and customers.
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