Partner

The Riverstone/Carlyle Global Energy and Power Funds Monday announced completion of the acquisition of USA Compression Holdings LP, the parent company of USA Compression Partners LLC, a natural gas compression services company headquartered in Austin and Dallas, TX. Terms of the transaction were not disclosed.

A recently announced acquisition by California-based water handling company Heckmann Corp. is intended to expand the range of water and wastewater services available to producers in the Haynesville Shale in East Texas, and there are plans to take the business to other shale plays.

David Meister, a partner in the law firm of Skadden, Arps, Slate, Meagher & Flom, has been named director of enforcement at the Commodity Futures Trading Commission. A former federal criminal prosecutor, he has nearly 25 years of experience in investigations, litigation and trials involving fraud and other complex schemes relating to U.S. financial markets. Meister previously served as an assistant U.S. attorney in the U.S. Attorney’s Office for the Southern District of New York, where he was a member of that Office’s Securities and Commodities Fraud Task Force. Vincent McGonagle, who has been acting director of enforcement since Oct. 1, will continue in that capacity until Meister joins the agency.

Penn Virginia Resource Partners LP has agreed to buy general partner Penn Virginia GP Holdings LP in a stock transaction valued at about $954.5 million. Radnor, PA-based Penn Virginia Resource, a master limited partnership (MLP), manages natural gas gathering and processing businesses. Penn Virginia GP is controlled by onshore producer Penn Virginia Corp., which owns a 37.6% stake and all of the incentive distribution rights (IDR). The transaction would cancel Penn Virginia GP’s IDRs, which gave it an increasing share of the distributable cash flow that it generated.

Penn Virginia Resource Partners LP on Tuesday agreed to buy general partner Penn Virginia GP Holdings LP in a stock transaction valued at about $954.5 million.

Williams Partners LP plans to assume the role of operator of the Overland Pass Pipeline after completing a bigger buy-in with joint venture (JV) partner ONEOK Partners LP. ONEOK Partners received about $424 million in the transaction, which was announced in July (see NGI, July 26). The Overland Pass Pipeline JV was established by the partners in May 2006, with Williams Partners then owning 1% interest. As long as Williams Partners owns at least 50% of the natural gas liquids pipe, it has the option to become the operator with 30 days notice.

Pennsylvania-based producer Rex Energy Corp. said Tuesday it will partner in the Marcellus Shale with a subsidiary of Japan’s Sumitomo Corp. in a transaction expected to pay dividends for years to come.

The initial 90-day open season of TransCanada Corp.’s Alaska pipeline project has closed and the company’s TC Alaska unit and partner ExxonMobil Corp. are assessing and negotiating the issues associated with the bids received from potential shippers, the companies said.

The initial 90-day open season of TransCanada Corp.’s Alaska pipeline project closed Friday. The company’s TC Alaska unit and partner ExxonMobil Corp. now will begin assessing and negotiating the issues and conditions that are incorporated within the bids received from potential shippers, the companies said.