{"id":656341,"date":"2013-05-06T17:07:19","date_gmt":"2013-05-06T21:07:19","guid":{"rendered":"http:\/\/www.pehub.com\/?p=200392"},"modified":"2013-05-06T17:07:19","modified_gmt":"2013-05-06T21:07:19","slug":"crestwood-inergy-combine-to-tap-energy-infrastructure-demand","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/656341","title":{"rendered":"Crestwood, Inergy Combine to Tap Energy Infrastructure Demand"},"content":{"rendered":"

Crestwood Midstream Partners LP<\/strong> and Inergy Midstream LP<\/strong> agreed to merge in a cash and stock deal to tap demand for pipeline and storage services in North America’s fast-developing shale fields, Reuters is reporting.<\/p>\n

(Reuters) – Crestwood Midstream Partners LP (CMLP.N: Quote, Profile, Research, Stock Buzz) and Inergy Midstream LP (NRGM.N: Quote, Profile, Research, Stock Buzz) agreed to merge in a cash and stock deal to tap demand for pipeline and storage services in North America’s fast-developing shale fields.<\/p>\n

Rapid growth in production from shale fields in the United States has created demand for new energy infrastructure to gather, process and ship oil, natural gas and related liquids.<\/p>\n

The combined entity, with an enterprise value of about $7 billion, will cater to shale fields including the Marcellus Shale, Bakken Shale, Eagle Ford Shale and the Barnett Shale, the companies said in a statement.<\/p>\n

The deal, also involving affiliates Crestwood Holdings and Inergy LP (NRGY.N: Quote, Profile, Research, Stock Buzz), will be implemented through a series of transactions scheduled for completion in the third quarter of 2013.<\/p>\n

Crestwood Chief Executive Robert Phillips will lead the combined company, which will be headquartered in Houston, Texas.
\nInergy Midstream and Inergy LP would continue to be listed on the New York Stock Exchange upon completion of the deal, while Crestwood Midstream will be merged with a wholly owned unit of Inergy Midstream, the companies said.<\/p>\n

Crestwood Midstream’s shares were up more than 5 percent at $25.16 in early trading on Monday. Inergy Midstream’s shares rose 1 percent to $24.40.<\/p>\n

Citigroup Global Markets Inc acted as exclusive financial adviser to Crestwood. Simpson Thacher & Bartlett LLP and Akin Gump Strauss Hauer & Feld LLP acted as legal counsel.<\/p>\n

Greenhill & Co served as lead financial adviser and Jefferies LLC served as co-financial adviser and sole technical advisor for Inergy L.P. and Inergy Midstream. Vinson & Elkins LLP acted as legal counsel to Inergy L.P. and Inergy Midstream.<\/p>\n

The post Crestwood, Inergy Combine to Tap Energy Infrastructure Demand<\/a> appeared first on peHUB<\/a>.<\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Crestwood Midstream Partners LP and Inergy Midstream LP agreed to merge in a cash and stock deal to tap demand for pipeline and storage services in North America’s fast-developing shale fields, Reuters is reporting. (Reuters) – Crestwood Midstream Partners LP (CMLP.N: Quote, Profile, Research, Stock Buzz) and Inergy Midstream LP (NRGM.N: Quote, Profile, Research, Stock […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-656341","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/656341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=656341"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/656341\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=656341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=656341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=656341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}