Regency Energy Partners to buy pipeline assets worth $1.5 bln
Dec 23 (Reuters) - Natural gas pipeline operator Regency Energy Partners said it would buy pipeline and related assets from Eagle Rock Energy Partners and Hoover Energy Partners for about $1.6 billion.
Eagle Rock's assets, valued at $1.3 billion, include about 8,100 miles of gathering pipelines and processing plants with a total capacity of more than 800 million cubic feet per day.
The acquisitions will give Regency Partners an increased exposure in Texas, the company said on Monday.
Regency's $290 million deal with Hoover Energy will help the company expand its footprint in the southern portion of the Delaware basin in West Texas.
Regency Energy's shares rose more than 3 percent in premarket trading.