Penntex Midstream Partners, LP (NASDAQ: PTXP) is a growing limited partnership company focused on acquiring, owning, operating, and developing midstream energy infrastructure assets in North America. PennTex Development, the parent company, consists of members of NGP and its management team, and develops oil, natural gas and LNG in multiple basins.
Penntex Midstream Partners (PTXP):
PTXP intends to use its relationship with NGP and its parent company to provide attractive services to oil and gas companies throughout North America and become a leading midstream energy company.
After the completion of this public offering , Penntex will provide natural gas collection and processing residual gas and liquefied petroleum gas (NGL) transportation services for producers in northern Louisiana. Initially, the company was mainly an independent natural gas and oil company under NGP Memorial Resource (NASDAQ: MRD) provides services and the company has reached a 15-year fee cooperation agreement with Memorial Resource.
Penntex Midstream Partners (PTXP) investment:
Penntex Midstream Partners, LP (NASDAQ: PTXP) was listed on NASDAQ on 6/4/2015 IPO, with an issue price of US$20, issuing 11.25 million shares and raising US$225 million.
On October 25, 2016, Energy Transfer Partners, LP (NYSE: ETP) announced that it has signed a definitive agreement to acquire Penntex Midstream Partners, LP (NASDAQ: PTXP) for US$640 million.