MarkWest Drops $512M To Snap Up Keystone Midstream

Law360, Los Angeles (May 7, 2012, 7:26 PM EDT) -- Natural gas company MarkWest Energy Partners LP has acquired Keystone Midstream Services LLC for $512 million in a transaction that is expected to close in the second quarter of 2012, it announced Monday.

Keystone's existing assets, located in Butler County, Pa., include two cryogenic-gas processing plants, a gas gathering system and associated field compression, MarkWest said in a statement. Keystone is owned is owned by Stonehenge Energy Resources LP and affiliated with Rex Energy Corp. and Sumitomo Corp.

MarkWest Chairman and CEO Frank Semple said the...
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