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Slide #34. Regency Energy Partners — Midstream Assets from Hoover Energy
Regency Energy Partners (RGP)
Midstream Assets from Hoover Energy
Regency Energy Partners LP (NYSE:,RGP) (Regency) today announced plans to purchase the midstream assets of Hoover Energy Partners LP (Hoover). The acquisition, valued at approximately $290 million, will complement Regency's existing footprint in the southern portion of the Delaware Basin and expands its services to producers into crude and water gathering.
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. 64% of all stocks covered)
Based on Zacks ABR data;
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