February 1, 2010 / 12:50 PM / 9 years ago

UPDATE 1-Western Gas buys certain Anadarko assets for $254.4 mln

* Western Gas sees deal adding to distributable cash flow * Deal includes Granger Gathering System, Granger Plants

* Systems’ Q4 total throughput was about 240 MMcf/d

Feb 1 (Reuters) - Western Gas Partners LP (WES.N) said it agreed to acquire certain midstream assets located in southwest Wyoming from Anadarko Petroleum Corp (APC.N) for about $254.4 million.

Western Gas, a limited partnership formed by Anadarko to acquire and develop midstream energy assets, said the acquisition includes interest in the Granger gathering system and the Granger plants.

The average throughput on the systems for the fourth quarter was about 240 million cubic feet per day.

Western Gas said it expects the acquisition to immediately add to distributable cash flow.

The deal was financed primarily with a $210 million draw on the partnership’s revolving credit facility plus cash on hand.

Western Gas shares closed at $19.99 and Anadarko’s at $63.78 Friday on the New York Stock Exchange. (Reporting by Adveith Nair in Bangalore; Editing by Anil D’Silva)

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