One-Page Deal Sheet
MarkWest Energy Acquires Keystone Midstream
Markwest Energy Partners, L.P. Keystone Midstream Services
Announced Date
May 31,2012
Close Date
May 31,2012
Transaction Type
Corporate
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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…