PennTex Midstream Partners LP Priced, Nasdaq: PTXP

NGP-backed MLP with midstream assets contracted to Memorial Resource.

Industry: Energy

Latest Trade: $19.97 0.00 (0.0%)

First Day Return: -2.6%

Return from IPO: -0.2%

Industry: Energy

We are a growth-oriented limited partnership focused on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. Our parent, PennTex Development, was formed by NGP and members of our management team to develop a multi-basin midstream growth platform with an initial focus on organic growth projects in partnership with oil and natural gas producers affiliated with NGP. We intend to leverage our relationships with NGP and our parent with a view to becoming a leading midstream energy company serving attractive oil and natural gas basins throughout North America. Following the completion of this offering, we will provide natural gas gathering and processing and residue gas and NGL transportation services to producers in the Terryville Complex in northern Louisiana. Initially, we will provide these services primarily to Memorial Resource, an NGP-affiliated independent natural gas and oil company focused on the development of liquids-rich natural gas opportunities in the Terryville Complex. Under an area of mutual interest and exclusivity agreement we have the exclusive right to develop, own and operate midstream assets and to provide midstream services to support Memorial Resource’s growing production in northern Louisiana, other than production subject to existing third-party commitments.
more less
IPO News for PennTex Midstream Partners LP
more
IPO Data
IPO File Date 09/30/2014
Offer Price $20.00
Price Range $19.00 - $21.00
Offer Shares (mm) 11.3
Deal Size ($mm) $225
IPO Data
IPO Date 06/03/2015
Offer Price $20.00
Price Range $19.00 - $21.00
Offer Shares (mm) 11.3
Deal Size ($mm) $225
Underwriters
more
Company Data
Headquarters Houston, TX
Founded 2014
Employees
Website www.penntex.com