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Slide #25. Regency Energy Partners LP — Midstream Business of Hoover Energy
Regency Energy Partners LP (RGP)
Midstream Business of Hoover Energy
Regency Energy Partners LP (NYSE:,RGP) (Regency) announced today that it has closed on its previously announced acquisition of the midstream business of Hoover Energy Partners LP (Hoover) for a combination of cash and Regency common units. Regency issued 4,040,471 Regency common units to Hoover and funded the cash portion of the consideration with borrowings under Regency's revolving credit facility.
Regency Energy Partners is engaged in the gathering and processing, compression, treating and transportation of natural gas and the transportation, fractionation and storage of natural gas liquids (NGLs). Co.'s segments include: Gathering and Processing, which provides wellhead-to-market services to producers of natural gas; Natural Gas Transportation, which owns pipelines that deliver natural gas; NGL Services, which has interest in midstream energy assets including NGL pipelines, storage, fractionation and processing facilities; and Contract Services, which owns and operates a fleet of compressors used to provide turn-key natural gas compression services for customer specific systems.
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Buy (2.56 out of 4)
(ranked lower than approx. 67% of all stocks covered)
Based on Zacks ABR data;
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