Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Access Midstream Partners LP (NYSE: ACMP ) said in a press release that it will acquire the bulk of Chesapeake Energy's (NYSE: CHK ) natural gas gathering and processing assets. The price is $2.16 billion in cash. The purchase adds to and expands Access' gathering and processing capacity in five natural gas plays.
According to the company, its purchase "provides immediate entry to gathering opportunities in key liquids-rich regions and to the processing and fractionation segments of the midstream value chain."
In another development, Access and Williams Cos. (NYSE: WMB ) both announced in separate press releases that the latter is to acquire around 25% of Access, and a 50% stake in Access Midstream Partners GP (the entity holding general-partner control of the similarly named LP).
Previously, Access Midstream Partners LP was a unit of Chesapeake. Earlier this year, it bought a number of assets divested by its former parent.
RSS Headlines
Fool UK
Comments from our Foolish Readers
Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the
Report this Comment icon found on every comment.
Be the first one to comment on this article.