Finance - Equity
Net proceeds will fund part of the purchase price for the Nuevo Midstream LLC acquisition, the company said.
The shares, listed on the New York Stock Exchange under the ticker “SHLX,” will start trading Oct. 29.
The units were approved to list on the New York Stock Exchange under the ticker 'AM.'
Warburg Pincus Energy LP started gathering money in November 2013.
The company expects its initial assets will include well connections, gathering pipelines and disposal wells in the Midcontinent.
The firm has raised 18 institutional oil and gas funds with about $21 billion.
The common units are expected to be listed on the New York Stock Exchange under the ticker symbol "SHLX."
The company intends to use the net proceeds from the offering to repay borrowings under its subsidiary's credit facility and general corporate purposes.
Proceeds of the offering will be used for working capital purposes and to source and evaluate potential projects in the energy sector.
The Calgary, Alberta-based company will fund drilling investments with the proceeds.
The units represent limited partner interests, the company added.
Proceeds will support the Cove Point LNG project, according to the S-1 the company filed.
Hart Energy Events
9/24/14Webinar: Coriolis Principles and Considerations for Entrained Gas in the Upstream Market
11/10/14Conference: Executive Oil Conference - Platinum Performance in the Permian Basin
11/20/14Conference: North American LNG Exports - Expanding Beyond the Gulf Coast
1/27/15Conference: Marcellus-Utica Midstream - Extending the Reach: Meeting Global Demand