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MarkWest Energy Partners Sells WV Marcellus Shale Gathering Assets to Summit Midstream Partners for $210M in Cash

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MarkWest Energy Partners Announces Filing of Definitive Proxy Statement

MarkWest Energy Partners, L.P. (NYSE: MWE) (MarkWest) and Summit
Midstream Partners, LP (NYSE: SMLP) (Summit) announced today the
execution of definitive agreements whereby Summit will acquire certain
gas gathering assets from MarkWest in Doddridge County, West Virginia
for $210 million in cash. Rich-gas gathered by these assets is dedicated
to MarkWest for processing at the Sherwood complex, also located in
Doddridge County, West Virginia. The transaction is expected to close in
June 2013.

The assets included in this transaction consist of over 40 miles of
newly constructed high-pressure gas gathering pipelines, certain
rights-of-way associated with the pipeline, and two compressor stations
totaling over 21,000 horsepower of combined compression. The rich-gas

See full press release

Posted-In: News Guidance Contracts Asset Sales Management Global

 

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