Martin Midstream Partners LP Announces Sale of Natural Gas Gathering & Processing Assets to CenterPoint Energy Inc

Martin Midstream Partners LP announced that it has entered into a definitive agreement to sell its East Texas and Northwest Louisiana natural gas gathering and processing assets owned by Prism Gas Systems I, L.P., a wholly owned subsidiary of MMLP, and certain other natural gas gathering and processing assets also owned by the Partnership to CenterPoint Energy Field Services, LLC (CEFS), an indirect, wholly owned subsidiary of CenterPoint Energy Inc for $275 million subject. The assets to be sold include the Partnership's 50% operating interest in the Waskom Gas Processing Company (Waskom). A subsidiary of CEFS owns the remaining 50% interest in Waskom. MMLP intends to use the proceeds from this transaction to repay indebtedness under its revolving credit facility and to fund future growth opportunities. The specific assets to be included in the Divestiture include; 50% interest in Waskom Gas Processing Company; Woodlawn gas processing plant and gathering system; McLeod, Hallsville and Darco gas gathering systems; and East Texas condensate gathering system. The Divestiture is expected to close on July 31, 2012.