Ferrellgas acquisition marks entry into midstream

May 1, 2014 By    

Ferrellgas Partners LP acquired Sable Environmental LLC, a company that provides saltwater disposal services throughout the Eagle Ford shale, for $124.7 million. Ferrellgas says the deal is its first non-propane-related acquisition and that it now plans to establish a midstream division.

“It is our intent to continue to expand our business both inside and outside our core propane operations as accretive opportunities present themselves,” says Ryan VanWinkle, Ferrellgas executive vice president and CFO, who, in a related move, is assuming the position of midstream operations president.

According to a press release, Ferrellgas previously named Todd Soiefer senior vice president of strategic development to lead a diversification initiative for Ferrellgas. Soiefer previously worked at RBC Capital Markets as director of energy investment banking, advising clients on investment banking activities.

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