Kinder Morgan Energy Partners LP (KMP) said it closed a previously announced transaction to purchase the natural gas treating business from Crosstex Energy, L.P. (XTEX) and Crosstex Energy, Inc. (XTXI) for approximately $266 million, including working capital and closing adjustments. The company would offer these natural gas treating services to its Texas Intrastate customers and to other producers in various supply basins, including the rapidly developing shale plays.
KMP purchased approximately 290 amine-treating and dew-point control plants predominantly located in Texas and Louisiana, with additional facilities in Mississippi, Oklahoma, Arkansas and Kansas.
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