[Back]Home > News > Industry News

Two US oil companies will operate more than 3100 miles of oil line pipe
Date:2016-11-02      View(s):1340      Tag:api line pipe manufacturer,galvanized steel pipe,prime steel pipe

Two US oil companies will operate more than 3100 miles of oil line pipe

The US oil line pipe company American Midstream Partners LP said hat the company will acquire peer JPEnergy Partners LP. The transaction will be the whole stock exchange in the form of completion, and will create a valuation of $ 2 billion focus on oil and gas line pipe transportation and other areas of limited partnership. The deal valued JPEnergy's common stock at $ 8.63 per share, a premium of 14.5% to its closing price on Friday. The combined corporate headquarters will be located in Houston, the business will be mainly concentrated in the oil-rich region of North America.

Private equity firm ArcLight Capital Partners holds a stake in the companies in the above transactions. According to Thomson Reuters Group, lArcight holds a 15.6% stake in AmericanMidstream, which holds a 19.8% stake in JPEnergy. Lynn Bourdon, chief executive of AmericanMidstream, will lead the combined company. The combined company will own and operate more than 3,100 miles of oil line pipes.

Bank of America Merrill Lynch in the transaction as AmericanMidstream financial adviser, LockeLordLLP as its legal adviser. BMOCapitalMarkets acted as financial advisor to JPEnergy and Latham & Watkins acted as legal counsel.
                                                                                                

Products Category