MarkWest Hydrocarbon Announces Expansion and Extension of Credit Facility
23 August 2006 - 7:23AM
PR Newswire (US)
DENVER, Aug. 22 /PRNewswire-FirstCall/ -- MarkWest Hydrocarbon,
Inc. (AMEX:MWP) today announced that it has entered into an amended
credit agreement increasing the size of the facility from $25
million to $55 million, increasing the term of the agreement to
three years and allowing the flexibility for MarkWest Hydrocarbon
to directly invest in additional units of MarkWest Energy Partners
to fund future growth opportunities. "We are pleased to accomplish
several key objectives with the restructuring of this credit
facility," said Frank Semple, Chief Executive Officer. "We now have
the liquidity to fully support the scope of our NGL business. In
addition, we also have a powerful tool to support the growth
opportunities we continue to see at MarkWest Energy Partners."
MarkWest Hydrocarbon, Inc. (AMEX:MWP) controls and operates
MarkWest Energy Partners, L.P. (AMEX:MWE), a publicly-traded
limited partnership engaged in the gathering, processing and
transmission of natural gas; the transportation, fractionation and
storage of natural gas liquids; and the gathering and
transportation of crude oil. We also market natural gas and NGLs.
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical facts included
or incorporated herein may constitute forward-looking statements.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we can give no assurance
that such expectations will prove to be correct. The
forward-looking statements involve risks and uncertainties that
affect our operations, financial performance and other factors as
discussed in our filings with the Securities and Exchange
Commission ("SEC"). Among the factors that could cause results to
differ materially are those risks discussed in our Form 10-K for
the year ended December 31, 2005, and our Forms 10-Q for 2006, as
filed with the SEC. DATASOURCE: MarkWest Hydrocarbon, Inc. CONTACT:
Frank Semple, President & CEO, or Jim Ivey, CFO, or Andy
Schroeder, VP and Treasurer, all of MarkWest Hydrocarbon, Inc.,
+1-866-858-0482, or fax, +1-303-290-8769, Web site:
http://www.markwest.com/
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