Martin Midstream Partners LP (NASDAQ: MMLP) priced its public offering of 3 million common units at $36.91 each, the company said Sept. 24.
Underwriters were given a monthlong option to purchase up to 450,000 additional units, Martin Midstream said.
Net proceeds of about $110 million will repay part of the outstanding revolving credit facility debts and support general partnership purposes. The repaid debt might be reborrowed to support acquisitions and expansion capex, the company said.
The offer is scheduled to close Sept. 29, the company said.
BofA Merrill Lynch,
Kilgore, Texas-based Martin Midstream Partners LP operates on the U.S. Gulf Coast.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
Exxon Shale Exec Details Plans for Pioneer’s Acreage, 4-mile Laterals
2024-05-03 - Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.
Infrastructure Company Savage Acquires Houston’s Texon
2024-05-03 - Texon, a midstream service provider, will continue operations under its legacy brand.
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.
Pitts: US, Qatar Face off in LNG ‘Olympics’
2024-05-03 - In the LNG exporting space, the U.S. is squaring off with its fiercest competitor, Qatar, with both countries expected to outpace Australia