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Regency Energy Partners to buy pipeline assets worth $1.5 bln

Monday, 23 Dec 2013 | 8:38 AM ET

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.

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