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Crestwood Midstream Partners LP Message Board

  • adspatz adspatz Nov 11, 2013 11:02 AM Flag

    Crestwood announces completion of Arrow acquisition

    Search for "SEC Live Filings Digest" to find out more.
    Crestwood Midstream Partners LP (CMLP) and Crestwood Equity Partners LP (CEQP) announced the completion of the acquisition of Arrow Midstream Holdings, LLC in a $750M deal. The transaction consists of $550M cash and $200M in stock, with part of the cash offering funded by 6.125% Senior Notes due 2022. Crestwood is one of the largest midstream service providers, particularly in the Bakken shale play, where it handles roughly 18% of total Bakken crude production. Arrow owns and operates 460 miles of pipeline and with this acquisition, Crestwood expects many synergies to be realized as it further grows and expands. President and CEO of Crestwood’s general partner, Robert Phillips remarked that the acquisition marks another strategic step forward in the Bakken shale, with the company able to grow its services and revenue.

15.20-0.10(-0.65%)Dec 26 4:02 PMEST

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