Argonaut Puts Up $187M In Assets For Compressor Co. Stake

Law360, New York (August 13, 2013, 2:43 PM EDT) -- Private equity-backed S&R Compression LLC has agreed to sell $187 million in crude oil production assets to USA Compression Partners LP in exchange for a 20 percent limited partner stake in USAC, the firms announced Tuesday.

S&R Compression, an Oklahoma-based company that is majority-owned by Argonaut Private Equity, will sell roughly 983 compression units in Oklahoma and Texas to USAC. In return, Argonaut — which is controlled by billionaire George B. Kaiser — will secure a 20 percent pro forma LP interest in USAC.

"This is...
To view the full article, register now.