ArcLight Capital Partners Announces Agreements to Construct andrnOperate New Crude Oil Gathering, Storage and Transmission Systemsrnin the Core of the Eagle Ford Shale

摘要

2014 AUG 15 (VerticalNews) -- By a News Reporter-Staff News Editor at Energy Business Journal -- ArcLight Capital Partners, LLC ("ArcLight") announced that Republic Midstream, LLC ("Republic Midstream"), a newly-formed portfolio company, executed agreements with Penn Virginia Corporation (NYSE: PVA; "Penn Virginia") to construct and operate a crude oil gathering system, a central delivery terminal complex and an intermediate takeaway pipeline to serve Penn Virginia's prolific acreage position in the Eagle Ford Shale. The long-term, fee-based transportation agreements with Penn Virginia are supported by minimum volume commitments and a dedication of acreage covering the areas served by the gathering system. ArcLight has committed $400 million to Republic Midstream, which will be managed by two of ArcLight's experienced midstream portfolio companies, American Midstream Partners, LP (NYSE: AMID; "American Midstream") and JP Energy Partners LP ("JP Energy"). ArcLight currently expects to offer each company the right to purchase 50% of Republic Midstream after the commencement of operations.