Exterran Partners to offer common units

Exterran Partners LP

Exterran Partners LP (NASDAQ: EXLP) has begun an underwritten public offering of 5,400,000 common units representing limited partner interests pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. Exterran Partners has also granted the underwriters a 30-day option to purchase up to an aggregate of 810,000 additional common units to cover over-allotments, if any.

Exterran Partners intends to use all of the net proceeds of this offering to fund a portion of the purchase price of its pending acquisition of natural gas compression assets from MidCon Compression LLC, pursuant to that certain purchase and sale agreement, dated as of Feb. 27, between its subsidiary and MidCon. Pending such use, Exterran Partners intends to use the net proceeds to pay down borrowings outstanding under its revolving credit facility, which amounts may be re-borrowed in accordance with the terms of the facility. If the acquisition does not close, Exterran Partners intends to use the net proceeds for general partnership purposes.

Wells Fargo Securities, BofA Merrill Lynch, JP Morgan, RBC Capital Markets, and Goldman, Sachs & Co. are acting as joint book-running managers.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...