MarkWest Energy partners completes acquisition of Keystone Midstream Services

MarkWest Energy Partners. L.P. today announced the closing of the previously announced acquisition of Keystone Midstream Services, LLC (Keystone) from Stonehenge Energy Resources, L.P., and subsidiaries of Rex Energy Corporation (Rex Energy) (NASDAQ:REXX) and Sumitomo Corporation (Sumitomo).

The acquisition consideration was $512 million. Keystone’s existing assets are located in Butler County, Pennsylvania and include two cryogenic gas processing plants totaling 90 million cubic feet per day of processing capacity, a gas gathering system and associated field compression. Concurrent with the closing of the transaction, Rex Energy and Sumitomo have dedicated an 895 square mile area to MarkWest. MarkWest will gather and process rich gas, and fractionate the natural gas liquids under long-term, fee-based agreements.

MarkWest’s acquisition of Keystone expands the Partnership’s leading position in the liquids rich Marcellus Shale area into northwest Pennsylvania and eastern Ohio.

Sponsor:

News Category:

Company News

Other News Items

Beyond processbook & PI vision: Exploring today’s industrial analytics tools

(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...

04-06-2024
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels

The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...

24-04-2024
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project

Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...

23-04-2024
SABIC Fujian Petrochemicals select Phenol yechnology from KBR

KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...

22-04-2024
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies

Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...

17-04-2024
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst

Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...

16-04-2024
Yokogawa and GridBeyond conclude investment and strategic partnership agreements

Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...

16-04-2024
Heraeus Precious Metals launches Circlear

Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...

16-04-2024
EMA and JERA to cooperate on LNG procurement and supply chains

The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...

16-04-2024
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity

Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...

16-04-2024