EnLink Midstream, LLC (NYSE: ENLC) (the General Partner) today announced
that its subsidiary purchased 2,849,100 common units representing
limited partner interests of EnLink Midstream Partners, LP (NYSE: ENLK)
(the Master Limited Partnership) in a private placement. The Master
Limited Partnership received proceeds of $50 million in the transaction,
which will fund the Master Limited Partnership’s growth. Following the
common unit purchase, the General Partner’s aggregate limited partner
ownership interest in the Master Limited Partnership will increase to
“We believe the purchase of ENLK’s common units is an attractive
investment opportunity given the Partnership’s significant growth
opportunities and key strategic advantages, which include fee-based
contracts, Devon’s strong sponsorship, an attractive asset platform, and
an investment-grade balance sheet,” said Barry E. Davis, EnLink
President and Chief Executive Officer.
The securities offered in the private placement have not been registered
under the Securities Act of 1933, as amended (the "Securities Act"), or
any state securities laws and may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements of the Securities Act and applicable state laws.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein.
About the EnLink Midstream Companies
EnLink Midstream is a leading, integrated midstream company with a
diverse geographic footprint and a strong financial foundation,
delivering tailored customer solutions for sustainable growth. EnLink
Midstream is publicly traded through two entities: EnLink Midstream,
LLC (NYSE: ENLC), the publicly traded general partner entity, and EnLink
Midstream Partners, LP (NYSE: ENLK), the master limited partnership.
EnLink Midstream’s assets are located in many of North America’s premier
oil and gas regions, including the Barnett Shale, Permian
Basin, Cana-Woodford Shale, Arkoma-Woodford Shale, Eagle Ford Shale,
Haynesville Shale, Gulf Coast region, Utica Shale and Marcellus Shale.
Based in Dallas, Texas, EnLink Midstream’s assets include over 9,200
miles of gathering and transportation pipelines, 17 processing plants
with 3.6 billion cubic feet per day of processing capacity, seven
fractionators with 280,000 barrels per day of fractionation capacity, as
well as barge and rail terminals, product storage facilities, purchase
and marketing capabilities, brine disposal wells, an extensive crude oil
trucking fleet and equity investments in certain private midstream
Additional information about the EnLink companies can be found at www.enlink.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151029006770/en/
Copyright Business Wire 2015
Source: Business Wire
(October 29, 2015 - 4:49 PM EDT)
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