Western Gas to acquire Anadarko natural gas assets for $375M

|About: Anadarko Petroleum Corporation (APC)|By:, SA News Editor

Western Gas Partners (WES), in its Q4 earnings report, said it agreed to acquire interests in some pipeline and gathering assets from Anadarko Petroleum (APC) for $375M, marking the company's entry into the long-haul NGL transportation business.

The acquisition includes a 20% interest in each of Texas Express Pipeline and Texas Express Gathering and a 33% interest in Front Range Pipeline.

WES plans to finance the deal with $350M from its revolving credit facility, $6M in cash and the issuance of ~308K common units to APC at an implied price of $60.78/unit.