Access Midstream Partners LP (NYSE: ACMP) will buy Chesapeake Midstream Operating LLC for $2.16 billion in cash.
The target is owned by Chesapeake Energy Corp. (NYSE: CHK), headquartered in Oklahoma City. The acquisition adds natural gas gathering and processing assets in the Eagle Ford, Utica and Niobrara areas to Access Midstream.
Oklahoma City-based Access Midstream owns and operates midstream energy assets in the U.S.
Jones Day advised Access Midstream on the deal.
The deal contributes to the energy M&A trend. Also on Dec. 12, Rosneft announced it would pay about $56 billion for Russian oil company TNK-BP and Tesoro Logistics agreed to acquire Chevron Pipeline Co.’s Northwest Products Pipeline System for $400 million. On Dec. 11., Spectra Energy announced it would buy the Express-Platte Pipeline System for $1.49 billion.
For more on energy M&A see, “Fracking Fuels Energy Deals.”