MarkWest Energy on Tuesday announced the closing of its
acquisition of Keystone Midstream Services, which it bought
from Stonehenge Energy Resources and subsidiaries of Rex Energy
The acquisition price was $512 million.
Keystones assets are located in Butler County,
Pennsylvania, and include two cryogenic gas
processing plants totaling 90 million cubic feet/day of
processing capacity, a gas gathering system and associated
Concurrent with the closing of the deal, Rex Energy and
Sumitomo have dedicated an 895-square-mile area to MarkWest,
the company said.
MarkWest will gather and process rich gas, and fractionate
gas liquids under long-term, fee-based agreements.
MarkWests acquisition of Keystone expands the
partnerships position in the liquids rich Marcellus Shale
area into northwest Pennsylvania and eastern Ohio, according to