American Midstream Partners complete merger with JP Energy Partners
American Midstream Partners and JP Energy Partners have completed their previously announced merger.
American Midstream is now a larger, more diversified midstream business operating in leading North American basins, including the Permian, Gulf of Mexico, Eagle Ford, East Texas and Bakken. The merged Partnership and its unitholders will benefit from improved scale and financial flexibility to invest in growth projects, third-party acquisitions and potential drop downs from affiliates of ArcLight Capital Partners, while establishing a path to future distribution growth.
President and Chief Executive Officer of American Midstream, Lynn L. Bourdon said: “Through this merger, American Midstream will emerge as a stronger company with higher growth, new business opportunities and a stronger financial position. This merger allows us to expand our service offerings from the well-head to the end user market. The combined company will have an enhanced growth strategy by offering customers a more comprehensive and competitive suite of services that enables us to capture incremental fee opportunities that strengthen margins and maximize returns to our unitholders.”
Immediately prior to the completion of the merger, the general partner of JP Energy merged with the general partner of American Midstream with the general partner of American Midstream continuing in its current form.
The combined company will be headquartered in Houston, Texas and managed by the existing American Midstream general partner, Board of Directors and executive leadership. Lynn L. Bourdon will serve as Chairman, President and Chief Executive Officer and Eric T. Kalamaras will serve as the Chief Financial Officer of the Partnership.
For more information visit www.americanmidstream.com
27th March 2017
