JP Energy Partners to acquire Southern Propane

JP Energy Partners LP signed an agreement to acquire all of Southern Propane Inc.’s assets for $14.9 million. Southern Propane, based in Houston, is a propane distribution and logistics company. The acquisition is expected to close before the end of the second quarter of 2015.

JP Energy Partners also entered an interconnection agreement with an affiliate of Magellan Midstream Partners LP to connect its Silver Dollar Pipeline System to Magellan’s Longhorn pipeline at the Barnhart Terminal in Crockett County, Texas. The interconnection will provide producers with a third takeaway option from the Silver Dollar Pipeline System and direct access from the core of the Midland Basin to Houston markets. The connection should be in service by the third quarter of 2015.