Enerven Completes Sale of WV Compressor Plants, All Other Assets
Crestwood Midstream announced in November they were purchasing a “bolt-on” acquisition of four compression/dehydration stations from Enerven Compression for $95 million (see Crestwood Midstream Buys 4 Compressor Stations in WV). The deal will mean an additional $11-$12 million in new revenue for Crestwood in 2013. As of Dec. 28, the transaction is officially completed and the stations now bear the name of Crestwood Midstream.
Apparently selling the four compressor stations was part of a larger strategy for Enerven. In addition to the WV sale, they’ve now sold the rest of the company!