Quicksilver Gas Services LP Announces Name Change to Crestwood Midstream Partners LP and New Ticker Symbol
05 10월 2010 - 9:23AM
Marketwired
Quicksilver Gas Services LP (NYSE: KGS) ("Quicksilver Gas
Services") announced today that its name has been changed to
Crestwood Midstream Partners LP ("Crestwood LP"). The name change
reflects closer business alignment with Crestwood Holdings
Partners, LLC ("Crestwood Holdings"), which acquired all of the
general partnership interest and approximately 17.2 million, or 60
percent, of the total common and subordinated limited partnership
units outstanding in Quicksilver Gas Services at the time of the
transaction closing on October 1, 2010. The ticker symbol for the
publicly traded units of Quicksilver Gas Services will change from
KGS to CMLP effective with the open of market trading on the New
York Stock Exchange on Tuesday, October 5, 2010, where the units
will continue to be traded. No action is required by unitholders as
a result of these changes.
In connection with these changes, the general partner of
Crestwood LP will also convert its name to Crestwood Gas Services
GP LLC. No changes in the composition of the board of directors or
management will occur as a result of these changes.
About Crestwood Midstream Partners LP
Houston, Texas-based Crestwood LP is a growth-oriented,
midstream master limited partnership which owns and operates 100%
fee-based gathering, processing, treating and compression assets
servicing natural gas producers in the Barnett Shale geologic
formation in the Fort Worth Basin of north Texas. For more
information about Crestwood LP, visit www.CrestwoodLP.com.
About Crestwood Holdings Partners, LLC
Houston, Texas-based Crestwood Holdings is a private energy
company formed by affiliates of First Reserve Corporation, a
leading private equity fund manager with extensive investments in
the energy industry, and Crestwood Management LLC to pursue the
acquisition and development of North American midstream assets and
businesses. The company will utilize management's extensive
industry experience and relationships to enable its growth through
the acquisition of strategic assets, the recruitment of experienced
midstream personnel and investment in midstream organic
infrastructure projects. For more information about Crestwood
Holdings, visit www.CrestwoodGP.com.
Forward-Looking Statements
The statements in this news release regarding future events,
occurrences, circumstances, activities, performance, outcomes and
results are forward-looking statements. Although these statements
reflect the current views, assumptions and expectations of
Crestwood LP's management, the matters addressed herein are subject
to numerous risks and uncertainties, which could cause actual
activities, performance, outcomes and results to differ materially
from those indicated. Such forward-looking statements include, but
are not limited to, statements about the benefits of the business
combination transaction involving Crestwood Holdings and Crestwood
LP, including future financial and operating results, the combined
company's plans, objectives, expectations and intentions and other
statements that are not historical facts. Factors that could result
in such differences or otherwise materially affect Crestwood LP's
financial condition, results of operations and cash flows include:
changes in general economic conditions; fluctuations in natural gas
prices; failure or delays by our customers in achieving expected
production natural gas projects; competitive conditions in our
industry; actions taken or non-performance by third parties,
including suppliers, contractors, operators, processors,
transporters and customers; fluctuations in the value of certain of
our assets and liabilities; changes in the availability and cost of
capital; operating hazards, natural disasters, weather-related
delays, casualty losses and other matters beyond our control;
construction costs or capital expenditures exceeding estimated or
budgeted amounts; the effects of existing and future laws and
governmental regulations, including environmental and climate
change requirements; and the effects of existing and future
litigation; the risk that the businesses will not be integrated
successfully; the risk that the cost savings and any other
synergies from the transaction may not be fully realized or may
take longer to realize than expected; disruption from the
transaction making it more difficult to maintain relationships with
customers, employees or suppliers; as well as other factors
disclosed in Crestwood LP's filings with the Securities and
Exchange Commission. The forward-looking statements included in
this news release are made only as of the date of this news
release, and we undertake no obligation to update any of these
forward-looking statements to reflect subsequent events or
circumstances except to the extent required by applicable law.
Investor Contact: Mark Stockard 832-519-2207
mstockard@crestwoodlp.com
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