Access Midstream Partners (ACMP) has agreed to acquire additional midstream assets from Chesapeake for $2.16 billion. The deal adds natural gas gathering and processing assets across the country. Assets included expand Access Midstream’s position in the Eagle Ford, Utica and Niobrara plays, as well as expanding the company’s existing position in both the Haynesville and Marcellus dry gas plays. ACMP also negotiated an extension of its exclusivity period for Chesapeake’s Mid-Continent assets.
Concurrently, Williams acquired a 50% general partner interest and a 23% limited partner interest in Access Midstream from Global Infrastructure Partners. Access Midstream’s GP interest was owned by Chesapeake until June 2012, when it was purchased by Global Infrastructure partners for $2 billion. [Read more…]