Crestwood Midstream 3Q13: Merger Done, Pedal to Marcellus Metal

In early October, Crestwood Midstream and Inergy Midstream completed their mega-billion-dollar merger (see Crestwood/Inergy Complete Their Merger Today, Worth $8B). Yesterday the newly merged company which kept the Crestwood Midstream name, issued their third quarter operations and financial update. Robert G. Phillips, Chairman, President and CEO said with the merger now behind them, it’s (our words) pedal to the metal, full speed ahead. Phillips is really excited about the company’s prospects for growth in the Marcellus Shale and said so yesterday.

Phillips said by the end of 2013 Crestwood gathering capacity in the Marcellus will hit 500 million cubic feet per day (Mmcf/d), which is a 25% increase from the end of 2012. By the end of 2014, he expects their Marcellus gathering capacity to grow to 750 Mmcf/d, up another 50%. Yes indeed, Crestwood is high on the Marcellus!…

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