Regency Energy Partners LP has announced that it has closed on its previously announced acquisition of the midstream business of Eagle Rock Energy Partners, LP for a combination of cash, Regency common units and assumption of indebtedness.
麻豆传媒映画淭he acquisition will complement Regency麻豆传媒映画檚 core gathering and processing business, and when combined with the recent acquisition of PVR Partners, will strengthen our existing positions in the Texas Panhandle and East Texas,麻豆传媒映画� said Mike Bradley, President and Chief Executive Officer of Regency.
麻豆传媒映画淚n addition, we believe this acquisition will be accretive to our distributable cash flow per common unit, and continue to expect to recommend to our board of directors distribution increases representing a growth rate of 6-8% for 2014.麻豆传媒映画�
麻豆传媒映画淚 would also like to thank Eagle Rock's management team for facilitating the completion of this transaction,麻豆传媒映画� continued Bradley.
Eagle Rock麻豆传媒映画檚 midstream assets include approximately 8100 miles of gathering pipeline and over 800 million ft3/d of processing plants and their cash flows are supported by large, long-term acreage dedications. The combined system is expected to provide significant synergies, increase efficiencies on Regency麻豆传媒映画檚 current system, and enhance services for its customers.
Adapted from press release by