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Subsequent Event | 6 Months Ended
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Jun. 30, 2014
Subsequent Event |
Subsequent Event | 19. Subsequent Event On July 11, 2014, the Partnership entered into a Purchase and Sale Agreement with MidCon to acquire natural gas compression assets, including a fleet of 162 compressor units, comprising approximately 110,000 horsepower, a tract of real property and the facility located thereon, a fleet of vehicles, equipment, inventory and other related property for approximately $135.0 million (the “Proposed MidCon Acquisition”). The purchase price is subject to certain closing and post-closing adjustments in accordance with the terms of the Purchase and Sale Agreement. The majority of the horsepower to be acquired is currently under a five-year contract operations services agreement with BHP Billiton Petroleum (“BHP Billiton”) to provide compression services. In connection with the acquisition, the contract operations services agreement with BHP Billiton will be assigned to the Partnership effective as of the closing. The Partnership plans to fund this acquisition with funds available under its revolving credit facility. The Proposed MidCon Acquisition, which is subject to certain closing conditions, is expected to close in the third quarter of 2014. As part of the transaction, we have agreed with the Partnership that at the closing of the Proposed MidCon Acquisition, the Partnership will direct MidCon to sell to our wholly-owned subsidiary EESLP, an indirect parent company of the Partnership, certain assets to be acquired in the acquisition, including a tract of real property and the facility located thereon, a fleet of vehicles, equipment, inventory and other related property. EESLP will fund $4.1 million of the purchase price and the Partnership will fund $130.9 million of the purchase price. Each of these amounts are subject to adjustment prior to, and after, the closing of the acquisition in accordance with the terms of the Purchase and Sale Agreement.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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