Daily News: August 11, 2014

Wells Fargo Agents Exterran Acquisition Financing

Exterran Partners and Exterran Holdings announced that Exterran Partners completed its previously announced acquisition of natural gas compression assets from MidCon Compression, a subsidiary of Chesapeake Energy, for approximately $135 million.

The acquisition was funded using credit available under Exterran Partners¡¯ revolving credit facility, which according to a July 11, 2014 press release was arranged by a syndicate of banks with Wells Fargo Securities, BNP Paribas Securities, Credit Agricole, RBC Capital Markets and RBS Secutiries serving as joint lead arrangers and joint bookrunners. Wells Fargo Bank served as administrative agent and BNP Paribas, Credit Agricole, RBC and RBS served as co-syndication agents.

The assets acquired include 162 compression units, with a total horsepower of approximately 110,000, which are currently being used to provide compression services in Arkansas¡¯ Fayetteville Shale.

The Omnibus agreement between Exterran Partners and Exterran Holdings was not amended to adjust the caps on operating costs or selling, general and administrative costs as a result of this transaction.

Exterran Partners is a provider of natural gas contract compression services.