Midstreamer MarkWest Issues (More) Stock to Raise $301M in Cash
MarkWest Energy Partners is one of, if not THE largest midstream company in the Marcellus and now the Utica Shale. They have a LOT of irons in the fire, with multiple processing plants and pipeline projects under way in the northeast. Billions of dollars worth of projects. Which means every now and again you have to feed the cash monster–shovel in some new money–to keep those projects moving forward.
And so yesterday MarkWest announced yet another round of new stock being offered in hopes of raising a quick and cool $301 million worth of cold, hard cash to fuel continued growth and progress. Here’s the announcement: