Exterran Partners LP (Nasdaq: EXLP) is buying customer contracts from Exterran Holdings Inc. (NYSE: EXH) in a deal valued at $174 million.
Exterran Holdings compresses natural gas and provides operations, maintenance, service and equipment for oil and gas production. Exterran Holdings owns an equity interest in Exterran Partners.
Exterran Partners provides natural gas contract services to U.S. customers.
The customer contracts are for customers with 370 compressor units. Exterran Partners will also buy the contracts from equipment that it had leased to Exterran Holdings. The deal is an all-stock transaction.
Other recent energy deals include Regency Energy Partners LP's (NYSE: RGP) purchase of Southern Union Gathering Co. LLC, Magellan Midstream Partners LP's (NYSE: MMP) agreement to buy 800 miles of pipelines and International Finance Corp.'s investment in InterEnergy Holdings.
For more on Energy M&A, see "Fracking Fuels Energy Deals."