May 16
Two local natural gas storage companies are in the initial public offering pipeline to raise capital for purposes of expanding and paying down debt.
Niska Gas Storage Partners LLC plans to raise as much as $422 million through an initial public offering of 17.5 million units priced between $19 and $21.
PAA Natural Gas Storage LP wrapped up its IPO on April 29, selling 11.5 million units priced at $21.50 per unit.
PAA, a spinoff of Houston-based midstream master limited partnership Plains All American Pipeline LP, is the first energy partnership to go public in nearly two years.
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Tags: Gas Storage, Storage