Pipeline operators Regency Energy Partners LP and Crestwood Midstream Partners LP both announced plans to purchase peers to expand their pipe networks, as infrastructure companies seek bigger stakes in the U.S. shale oil and gas boom.Regency Energy agreed to buy PVR Partners LP for about $3.8 billion while Crestwood Midstream is buying privately held Arrow Midstream Holdings for $750 million.Burgeoning production has left the United States awash in cheap oil and gas but a shortage of pipelines has put a premium on the infrastructure that moves production to refining hubs.The deals announced on Thursday come a few months after Crestwood, Inergy LP and Inergy Midstream LP merged to form a $7 billion entity to cater to a spurt in Bakken production, which has made North Dakota the most prolific oil-producing state after Texas.
Crestwood Midstream Partners LP owns, operates, acquires and develops midstream energy assets. Shares of CMLP fell by 0.09% or $-0.02/share to $22.90. In the past year, the shares have traded as low as $21.03 and as high as $26.01. On average, 425489 shares of CMLP exchange hands on a given day and today's volume is recorded at 80381.
Shares of NRGY remained unchanged at $13.52. In the past year, the shares have traded as low as $7.98 and as high as $16.89. On average, 415914 shares of NRGY exchange hands on a given day and today's volume is recorded at 0.
Regency Energy Partners LP (the Partnership) is engaged in the gathering and processing, contract compression, treating and transportation of natural gas and the transportation, fractionation and storage of natural gas liquids (NGLs). Shares of RGP fell by 4.17% or $-1.16/share to $26.67. In the past year, the shares have traded as low as $20.58 and as high as $29.52. On average, 424049 shares of RGP exchange hands on a given day and today's volume is recorded at 1518552.
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