Chesapeake Energy’s subsidiary MidCon Compression has agreed to sell 162 compression units in Arkansas to Exterran Partners for $135 million.
Chesapeake spokesman Gordon Pennoyer said, “This sale is a continuation of Chesapeake’s strategy to streamline our overall portfolio to focus on our core assets and essentially completes our exit from the large-scale compression business.”
Most of the units are currently serving BHP Billiton Petroleum in Arkansas’ Fayetteville Shale.
After the deal closes, Exterran will take on the contract operations services agreement.
Exterran CEO Brad Childers said, “We are pleased to acquire an additional fleet of modern, highly standardized assets from MidCon and continue to deliver on our strategy of growing our core contract operations business.”