DCP Midstream Partners (DPM) Acquires Crossroads Processing Plant for $63 Million; Deal Immediately Accretive
Tweet Send to a FriendGet Alerts DPM Hot Sheet
Up)
Trade DPM Now!
DCP Midstream Partners, LP (NYSE: DPM) has entered into an agreement with Penn Virginia Resource Partners, L.P. (NYSE: PVR) to acquire the Crossroads processing plant and associated gathering system, for approximately $63 million.
"This immediately accretive acquisition provides us with an opportunity to increase our market position in East Texas and demonstrates our commitment to provide integrated midstream services to our customers," said Mark Borer, president and CEO of the Partnership.
The Crossroads system, located in the southeastern portion of Harrison county in East Texas, includes approximately 8 miles of gas gathering pipe, an 80 million cubic feet per day cryogenic processing plant, approximately 20 miles of NGL pipeline and a 50% ownership in an approximately 11-mile residue gas pipeline.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
"This immediately accretive acquisition provides us with an opportunity to increase our market position in East Texas and demonstrates our commitment to provide integrated midstream services to our customers," said Mark Borer, president and CEO of the Partnership.
The Crossroads system, located in the southeastern portion of Harrison county in East Texas, includes approximately 8 miles of gas gathering pipe, an 80 million cubic feet per day cryogenic processing plant, approximately 20 miles of NGL pipeline and a 50% ownership in an approximately 11-mile residue gas pipeline.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Royalty Pharma Raises Elan (ELN) Bid to $12.50/share
- Bank Leumi le-Israel Moves to Terminate Credit Lines for Elbit Imaging (EMITF)
- Elan Corp (ELN) Plans Strategic Change of Company; Proposes $200M Buyback
Create E-mail Alert Related Categories
Corporate News, Mergers and Acquisitions
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
