DENVER--(BUSINESS WIRE)--Dec. 17, 2013--
MarkWest Energy Partners, L.P. (NYSE: MWE) (“MarkWest”) announced today
that it has agreed to sell approximately 4,750,000 common units pursuant
to a terms agreement under its equity distribution agreement with
Citigroup Global Markets Inc. (the “Sales Agent”) for total gross
proceeds of approximately $301.15 million. In addition, 250,000 common
units will be sold by M&R MWE Liberty, LLC (the “Selling Unitholder”).
MarkWest has granted the Sales Agent a 30-day option to purchase a
maximum of 712,500 additional common units, and the Selling Unitholder
has granted the Sales Agent a 30-day option to purchase a maximum of
37,500 additional common units. MarkWest intends to use the net proceeds
of this offering for general partnership purposes, which may include,
among other things paying or refinancing a portion of its outstanding
indebtedness and funding working capital, its capital expenditure
program or acquisitions. MarkWest will not receive any of the proceeds
from the sale of common units by the Selling Unitholder. The offering is
expected to close on December 23, 2013.
The Sales Agent may offer the common units from time to time in one or
more transactions on the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or otherwise at
market prices or negotiated prices.
The offering is being made pursuant to an effective registration
statement on Form S-3 previously filed with the Securities and Exchange
Commission. Copies of the prospectus supplement, the accompanying base
prospectuses and the free writing prospectus related to this offering
may be obtained from Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel:
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
securities described above in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of such state or jurisdiction.
MarkWest Energy Partners, L.P. is a master limited partnership
engaged in the gathering, transportation, and processing of natural gas;
the transportation, fractionation, marketing, and storage of natural gas
liquids; and the gathering and transportation of crude oil. MarkWest has
extensive natural gas gathering, processing, and transmission operations
in the southwest, Gulf Coast, and northeast regions of the United
States, including the Marcellus Shale, and is the largest natural gas
processor and fractionator in the Appalachian region.
This press release includes “forward-looking statements.” All
statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements. Actual
results could vary significantly from those expressed or implied in such
statements and are subject to a number of risks and uncertainties.
Although MarkWest believes that the expectations reflected in the
forward-looking statements are reasonable, MarkWest can give no
assurance that such expectations will prove to be correct. The
forward-looking statements involve risks and uncertainties that affect
operations, financial performance, and other factors as discussed in
filings with the Securities and Exchange Commission. Among the
factors that could cause results to differ materially are those risks
discussed in the periodic reports filed with the SEC, including
MarkWest’s Annual Report on Form 10-K for the year ended December 31,
2012 and its Quarterly Reports on Form 10-Q for the quarters ended March
31, 2013, June 30, 2013 and September 30, 2013. You are urged to
carefully review and consider the cautionary statements and other
disclosures made in those filings, specifically those under the heading
“Risk Factors.” MarkWest does not undertake any duty to update
any forward-looking statement except as required by law.
Source: MarkWest Energy Partners, L.P.
MarkWest Energy Partners, L.P.
Frank Semple, 866-858-0482
President & CEO
Nancy Buese, 866-858-0482
VP & CFO
Josh Hallenbeck, 866-858-0482
Finance & Treasurer