JP Energy Development LP, an affiliate of JP Energy Partners LP, has agreed to acquire all of the equity interests in Wildcat Permian Services LLC ('Wildcat') from Wildcat Midstream Mesquite, LLC and Approach Midstream Holdings, LLC, an affiliate of Approach Resources Inc. The transaction is expected to close late in the third quarter or early in the fourth quarter of 2013.

Wildcat owns and operates a long-term contracted oil pipeline system consisting of approximately 50 miles of high-pressure, steel pipeline in Crockett and Reagan Counties, Texas, with throughput capacity of 100,000 Bbls/d, truck terminals and LACT bay facilities, multiple receipt points and 40,000 Bbls of crude oil storage. JP Energy provides an integrated platform of crude oil gathering, transportation and marketing services to producers and refiners in the Mid-Continent area, and the acquisition of Wildcat will extend JP Energy's reach into the rapidly growing southern Midland Basin, and will further diversify JP Energy's portfolio of transportation and storage assets.

Tags: JP Energy Partners LP