Eagle Rock Energy Partners announced today it would sell off its midstream assets to Regency Energy Partners. The deal, which could be worth as much as $1.3 billion, would transform Eagle Rock into a pure-play upstream master limited partnership.
"This transaction is consistent with our stated goals of simplifying our structure and reducing our debt balances," Eagle Rock CEO Joseph A. Mills said in a statement.
Eagle Rock’s midstream assets are located in the Texas Panhandle, East Texas/Louisiana, South Texas and the Gulf of Mexico.
