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Business Week reported that Western Gas Partners LP (NYSE:WES) plans to offer up to 5.75 million new shares and could use some or all the proceeds to pay down debt.
Business Week reported that Western Gas Partners LP (NYSE:WES) plans to offer up to 5.75 million new shares and could use some or all the proceeds to pay down debt.
The market news is quoted as saying:
On Monday, the company said it will offer 5 million shares representing limited-partner interests, and give underwriters the option to buy up to 750,000 more.
Western Gas was set up by Anadarko Petroleum Corp. in 2008 to own and operate gas-gathering facilities. The company had net income of $68.9 million on $226 million in revenue for the first half of this year, up from $59.4 million on $213 million in revenue in the first half of last year.