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Atlas Pipeline Partners, L.P. Message Board

  • bosox_pats bosox_pats Aug 5, 2013 9:12 AM Flag

    TexStar Midstream For Sale

    TexStar is a gatherer and processor in Eagle Ford. It's owned by EIG Global Energy and Tailwater Capital. Teak (recently acquired by APL) and TexStar own a JV company together. TexStar is reportedly larger than Teak and Teak went for $1.0 B. I imagine the Cohen's mouth's are watering to get control of TexStar given the scale economies in the Eagle Ford. I don't know how they could pull it off given the debt levels now at APL. They would have to use more equity than normal to get a deal done. More equity could mean a possible dilutive deal near-term but accretive longer term. Reportedly, Evercore is the banker and they hope to have bids in by end of August.

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