Shell Midstream Partners, L.P. Announces Largest Acquisition to Date
Shell Midstream Partners, L.P. Common Units representing Limited Partner Interests (SHLX)
Last shell midstream partners, l.p. common units representing limited partner interests earnings: 2/20 08:00 am
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shellmidstreampartners.com
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Source: GlobeNewswire
Houston, May 10, 2018 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) entered into a purchase and sale agreement to acquire Shell’s ownership interest in Amberjack Pipeline Company LLC, which is comprised of 75% of Amberjack Series A and 50% of Amberjack Series B for $1.22 billion. “I’m pleased to announce our largest acquisition to date. This is a significant milestone for Shell Midstream Partners,” said Kevin Nichols, Chief Executive Officer. “The Amberjack pipeline is strategically located to capture value in a prolific area in the Gulf of Mexico and represents another key corridor that is set to benefit from organic growth.” “This acquisition, combined with our equity raise earlier in the year, further demonstrates our ability to deliver against our promises and positions us well for the future.” Shell Midstream Partners’ share of Amberjack’s annualized net income estimated using the second quarter of 2018 forecast is nearly $120 million with the second qua
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