Eagle Rock Energy Partners L.P. (EROC) Friday said it agreed to acquire BP America Production Company's Sunray and Hemphill processing plants and associated 2,500 mile gathering system for $227.5 million in cash.
Eagle Rock and BP will enter into at closing a 20-year, fixed-fee Gas Gathering and Processing Agreement under which Eagle Rock will gather and process BP's natural gas production from the existing connected wells.
Furthermore, BP and its joint venture partners will commit to Eagle Rock under the same Gas Gathering and Processing terms all future natural gas production from new wells drilled within an initial two-year period from closing
For comments and feedback: editorial@rttnews.com