Marcellus/Utica Midstreamer PVR Bought by Regency Energy for $5.6B

bigger fish smaller fishPVR Partners, formerly known as Penn Virginia Resource Partners, will now just be formerly. Period. PVR is a major midstream company (pipelines and processing plants) with big operations in the PA Marcellus Shale after buying Chief Gathering last year (see PVR Buys Chief Gathering/Marcellus Pipelines for $1B). They also announced last year that they would spend $380 million to expand pipelines in NE PA (see PVR Announces $380 Million Investment in NE PA Marcellus), and very recently PVR announced a deal with Hess to build a pipeline system in eastern OH (see PVR Partners to Build $150M Utica Shale Pipeline System for Hess).

Yesterday Texas-based Regency Energy Partners and PVR announced that Regency will buy out PVR for $5.6 billion. Regency, also a midstream company, owns some assets in the Marcellus/Utica, but most of their operations are in the Southwest and West, so this purchase gives them a major presence in the rapidly-expanding midstream sector of the Marcellus/Utica. After the buyout is completed, the PVR name will be no more…

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