MarkWest Energy Partners, L.P. and The Energy & Minerals Group (EMG) announced the completion of the previously announced Amended and Restated Limited Liability Company Agreement (Amended LLC Agreement) for MarkWest Utica EMG, LLC (Utica Joint Venture). The Utica Joint Venture is dedicated to the development of critical midstream infrastructure on behalf of natural gas producers operating throughout the liquids-rich Utica Shale formation in Ohio.

Under the terms of the Amended LLC Agreement, EMG will increase its initial capital investment in the Utica Joint Venture from $500 million to $950 million. The additional contributions from EMG provide MarkWest with significant financial flexibility in the timing of its capital contributions to the Utica Joint Venture. The Amended LLC Agreement does not modify the ownership interest levels or quarterly distribution percentages as originally set forth between the parties.

Tags: MarkWest Energy Partners