Tallgrass Development LP has offered a 33.3% interest in Tallgrass Pony Express Pipeline LLC for $600 million.
This acquisition is expected to increase Compressco's total HP offering to more than 1 million from about 187,000.
At $2.1 billion, the transaction is the largest in the company’s history.
The acquisition boosts American Midstream’s abilities in Southeast Louisiana and the GoM.
The majority of the units are currently provide services to BHP Billiton in the Fayetteville Shale.
The dropdown is the partnership's first acquisition since its initial public offering in August 2013.
Eagle Rock’s midstream assets include approximately 8,100 miles of gathering pipeline and more than 800 million cubic feet per day (MMcf/d) of processing plants.
Williams now owns 100% of the general partner and about 50% of the limited partner units in Access Midstream Partners.
Pinto Energy is developing an estimated 2,800 bbl/d plant near the Port of Ashtabula, Ohio.
Tulsa, Okla.-based Rose Rock now owns a 51% interest in White Cliffs Pipeline.
Enbridge Partners will own a 48.4% limited partner interest in Houston-based Midcoast Operating.
The assets will likely contribute about $15.4 million in EBITDA during their first full year.