MarkWest Energy Partners, L.P. Announces Closing Of Upsized Public Offering Of Common Units

MarkWest Energy Partners, L.P. announced the closing of its previously announced public offering of 10,000,000 common units at $54.25 per common unit. MarkWest has granted the underwriters a 30 day option to purchase up to 1,500,000 additional common units to cover the underwriters’ sale of additional common units, if any. MarkWest intends to use the approximately $521.1 million in net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, as well as any exercise of the underwriters’ option to purchase additional common units, to fund the proposed acquisition of all of the interests in MarkWest Liberty Midstream & Resources, L.L.C. held by M&R MWE Liberty, L.L.C., an affiliate of The Energy & Minerals Group. If MarkWest does not consummate such transaction, it intends to use the net proceeds from the offering for general partnership purposes, including, but not limited to, funding capital expenditures and general working capital. Citigroup, BofA Merrill Lynch, Barclays Capital, Morgan Stanley, UBS Investment Bank, and Wells Fargo Securities acted as joint book-running managers for the offering.