Western Gas Partners (WEST) Acquires Stake in Chipeta Processing from Anadarko (APC)

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Western Gas Partners, LP (NYSE: WES) has acquired an additional 24%membership interest in Chipeta Processing LLC (“Chipeta”) from Anadarko Petroleum Corporation (NYSE: APC) for total consideration of $135 million.

Chipeta owns the Chipeta natural gas processing plant complex, which includes three processing trains: a 240 MMcf/d capacity refrigeration unit completed in November of 2007, a 250 MMcf/d capacity cryogenic unit commissioned in April 2009, and a 300 MMcf/d capacity cryogenic unit (“Train III”), scheduled to come on line in the third quarter of 2012. As a result of the acquisition, the Partnership owns a 75-percent membership interest in Chipeta, while a third party retains a 25-percent membership interest

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