News Column

PennTex Midstream Partners to Pursue Initial Public Offering of Master Limited Partnership

August 30, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- PennTex Midstream Partners, LLC ("PennTex"), a full service, multiplatform company dedicated to creating a leading energy logistics business through strategic partnerships with its customers, announced that it is pursuing the formation of a midstream master limited partnership (MLP) and intends to confidentially submit a draft Registration Statement on Form S-1 to the U.S. Securities and Exchange Commission shortly for an initial public offering (IPO) of common units of the MLP. The offering is expected to be completed in the fourth quarter of 2014.

It is expected that the initial assets of the MLP will consist of a portion of PennTex's North Louisiana natural gas gathering and processing assets, including its 200 MMcf/d processing plant under construction in Lincoln Parish, Louisiana. Following the closing of the contemplated IPO, PennTex will control the general partner of the MLP and will own a majority of the incentive distribution rights and a majority of the MLP limited partnership units. PennTex will continue to own its Permian Basin gathering and processing platform in Reeves County, TX and the remainder of its North Louisiana assets, including a second 200 MMcf/d Lincoln Parish processing plant in development.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offer, solicitations to offer to buy, or any sales of securities will only be made in accordance with the registration requirements of the Securities Act of 1933 or an exemption therefrom. This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933.

SOURCE PennTex Midstream Partners, LLC

PennTex Midstream Partners, LLC

Keywords for this news article include: Banking and Finance, PennTex Midstream Partners Llc.

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Source: Investment Weekly News


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