DENVER--(BUSINESS WIRE)--MarkWest Energy Partners LP (NYSE: MWE) announced today that it is commencing a public offering of 8,000,000 common units. MarkWest intends to grant the underwriters a 30-day option to purchase a maximum of 1,200,000 additional common units to cover the underwriters’ sale of additional common units, if any. MarkWest intends to use the net proceeds from the offering and from any exercise of the underwriters’ option to purchase additional common units to partially fund its acquisition of Keystone Midstream Services, LLC, which owns certain gas gathering and processing facilities located in Butler County, Pennsylvania. If MarkWest does not consummate the Keystone Acquisition, it intends to use the net proceeds from the offering and from any exercise of the underwriters’ option for general partnership purposes, including, but not limited to, funding capital expenditures and general working capital.
Morgan Stanley, BofA Merrill Lynch, Barclays, Citigroup, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers for the offering. The offering is being made only by means of a prospectus supplement and accompanying base prospectus. A copy of the prospectus supplement and accompanying base prospectus associated with the offering may be obtained from the underwriters as follows:
Recommended Reading
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.
Shell Launches $3.5 Billion Share Buyback Program
2024-05-02 - Shell, which posted first-quarter adjusted earnings of $7.7 billion, will cancel all of the shares it buys.