December 23, 2013 / 1:40 PM / 4 years ago

CORRECTED-Regency Energy Partners to buy pipeline assets worth $1.6 bln

(Changes value of assets to $1.6 bln in headline)

Dec 23 (Reuters) - Natural gas pipeline operator Regency Energy Partners said it would buy pipeline and related assets from Eagle Rock Energy Partners and Hoover Energy Partners for about $1.6 billion.

Eagle Rock’s assets, valued at $1.3 billion, include about 8,100 miles of gathering pipelines and processing plants with a total capacity of more than 800 million cubic feet per day.

The acquisitions will give Regency Partners an increased exposure in Texas, the company said on Monday.

Regency’s $290 million deal with Hoover Energy will help the company expand its footprint in the southern portion of the Delaware basin in West Texas.

Regency Energy’s shares rose more than 3 percent in premarket trading. (Reporting By Kanika Sikka in Bangalore; Editing by Saumyadeb Chakrabarty)

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