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American Midstream Partners Buys Natural Gas Assets From Enbridge Energy Partners (NYSE: EEP)

Posted on: Thursday, 5 November 2009, 18:00 CST

DENVER, Nov. 5 /PRNewswire/ -- American Midstream Partners announced that yesterday it completed the purchase of twelve natural gas pipelines and gathering and processing assets from Enbridge Energy Partners, LP (NYSE: EEP) in a transaction valued at approximately $151 million. The assets include two interstate gas pipelines and a substantial network of intrastate pipelines and gathering and processing systems located primarily in Louisiana, Mississippi, Alabama and Tennessee that serve industrial, commercial and local distribution companies.

"We believe that this is a unique opportunity to create a leading company delivering natural gas throughout the southeastern U.S.," said Brian Bierbach, President and CEO of American Midstream Partners. "We are excited about the possibilities for building on the strong platform that we have acquired from Enbridge. Our focus will be on improving the operations, providing superior customer service and growing these assets both organically and through selected strategic acquisitions. We begin a new chapter for these proven assets with an experienced management team, a strong balance sheet, and a dedicated investment partner."

About American Midstream Partners, LP

American Midstream Partners, LP is a growth oriented private partnership that owns, operates and develops energy infrastructure assets and provides a comprehensive range of services to link energy suppliers to utility, industrial, commercial and residential consumers. Headquartered in Denver, American Midstream Partners also has an office in Houston and field operating offices in Alabama, Louisiana and Mississippi.

SOURCE American Midstream Partners

Source: PR Newswire

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