Attached files
file | filename |
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8-K - FORM 8-K - Archrock Partners, L.P. | h82593e8vk.htm |
EX-8.1 - EX-8.1 - Archrock Partners, L.P. | h82593exv8w1.htm |
EX-1.1 - EX-1.1 - Archrock Partners, L.P. | h82593exv1w1.htm |
EX-5.1 - EX-5.1 - Archrock Partners, L.P. | h82593exv5w1.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
EXTERRAN PARTNERS, L.P. PRICES PREVIOUSLY ANNOUNCED
PUBLIC OFFERING OF COMMON UNITS
PUBLIC OFFERING OF COMMON UNITS
Houston, TexasMay 25, 2011Exterran Partners, L.P. (NASDAQ: EXLP) (the Partnership) today
announced that it priced a previously announced underwritten public offering of 5,000,000 common
units representing limited partner interests in the Partnership at $25.95 per common unit. The
offering is expected to close on or about May 31, 2011. The Partnership also granted the
underwriters a 30-day option to purchase up to 750,000 additional common units to cover
over-allotments, if any.
The Partnership intends to use the net proceeds of this offering (i) to repay approximately $61.5
million of borrowings outstanding under its revolving credit facility and (ii) for general
partnership purposes, including to fund a portion of the consideration for the previously announced
acquisition of compression and processing assets from Exterran Holdings, Inc. pursuant to that
certain Contribution, Conveyance and Assumption Agreement, dated as of May 23, 2011, if
consummated.
BofA Merrill Lynch, Wells Fargo Securities, J.P. Morgan and Barclays Capital are acting as joint
book-running managers. A copy of the preliminary prospectus supplement and prospectus relating to
the offering may be obtained from the following addresses:
BofA Merrill Lynch
|
Wells Fargo Securities | |
Attn: Prospectus Department
|
Attn: Equity Syndicate Department | |
4 World Financial Center
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375 Park Avenue | |
New York, New York 10080
|
New York, NY 10152 | |
dg.prospectus_requests@baml.com
|
Telephone: (800) 326-5897 | |
cmclientsupport@wellsfargo.com | ||
J.P. Morgan
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Barclays Capital | |
via Broadridge Financial Solutions
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c/o Broadridge Financial Solutions | |
1155 Long Island Avenue
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1155 Long Island Avenue | |
Edgewood, New York 11717
|
Edgewood, NY 11717 | |
Telephone: (866) 803-9204
|
Telephone: (888) 603-5847 | |
barclaysprospectus@broadridge.com |
This offering is made pursuant to an effective shelf registration statement and prospectus
filed by the Partnership with the Securities and Exchange Commission (SEC). This press release
shall not constitute an offer to sell or the solicitation of an offer to buy the common units
described herein, nor shall there be any sale of these common units in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The offering may be made only by means of a
prospectus and related prospectus supplement meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Exterran Partners, L.P. (NASDAQ: EXLP) provides natural gas contract operations services to
customers throughout the United States.
All statements in this release (and oral statements made regarding the subjects of this release)
other than historical facts are forward-looking statements. These forward-looking statements
rely on a number of assumptions concerning future events and are subject to a number of
uncertainties, factors and risks, many of which are outside the control of the Partnership, which
could cause actual results to differ materially from such statements including, but not limited to,
statements related to the proposed offering and the proposed acquisition.
While the Partnership believes that the assumptions concerning future events are reasonable, it
cautions that there are inherent difficulties in predicting certain important factors that could
impact the future performance or results of its business. Among the factors that could cause
results to differ materially from those indicated by such forward-looking statements are: changes
in the capital and financial markets that impact the effect of the proposed acquisition; the
results of the review of the proposed acquisition by regulatory agencies and the failure to satisfy
various other conditions to the closing of the acquisition; local, regional, national and
international economic conditions and the impact they may have on the Partnership and its
customers; changes in tax laws that impact master limited partnerships; conditions in the oil and
gas industry, including a sustained decrease in the level of supply or demand for oil and natural
gas and the impact on the price of oil and natural gas; changes in political or economic conditions
in key operating markets, including international markets; and changes in safety, health,
environmental and other regulations.
These forward-looking statements are also affected by the risk factors, forward-looking statements
and challenges and uncertainties described in our Annual Report on Form 10-K for the year ended
December 31, 2010 and those set forth from time to time in our filings with the SEC. Except as
required by law, we expressly disclaim any intention or obligation to revise or update any
forward-looking statements whether as a result of new information, future events or otherwise.
Contacts
Exterran
Investors:
David Oatman, 281-836-7035
David Oatman, 281-836-7035
or
Media:
Susan Nelson, 281-836-7297
Susan Nelson, 281-836-7297