Natural Gas Utilities
JP Energy Partners announces acquisition of Southern Propane, Inc and new silver dollar pipeline system interconnection agreement with Magellan Midstream Partners, L.P.
JP Energy Partners LP:To acquire substantially all of the assets of Southern Propane Inc for about $14.9 mln.Acquisition is expected to close before the end of the second quarter of 2015 and will be funded through the use of cash from JP Energy's revolving credit facility and the issuance of about 267,000 JPEP units.Also executes an interconnection agreement with an affiliate of Magellan Midstream Partners, L.P.To connect its Silver Dollar Pipeline System to Magellan's Longhorn pipeline at Barnhart Terminal in Crockett County, TX.Connection is expected to be in service by the third quarter of 2015.
EnLink Midstream Partners completes acquisition of Victoria Express Pipeline in Dropdown Transaction with Devon Energy
EnLink Midstream Partners:Completed the acquisition of the Victoria Express Pipeline and related truck terminal and storage assets (VEX) from Devon Energy Corporation.Transaction is expected to be immediately accretive to the Partnership.
Chesapeake Utilities Corp:Completes merger of Gatherco Inc into Aspire Energy of Ohio, LLC , its newest wholly-owned subsidiary.Transaction had an aggregate value of about $59.2 million.