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Exterran to Receive Approximately $112 Million in Connection with Sale of Venezuelan Joint Venture Assets
Exterran Holdings, Inc. (NYSE:EXH) today announced that WilPro Energy Services (El Furrial) Limited and WilPro Energy Services (PIGAP II) Limited, the joint ventures owned by subsidiaries of Exterran and Williams (NYSE:WMB), have completed the sale of the El Furrial and PIGAP II assets to PDVSA Gas, S.A. in connection with the 2009 nationalization of those assets. After satisfying amounts owed to the WilPro joint ventures’ lenders and taking into account other closing adjustments, Exterran received an initial payment of approximately $37.6 million in cash at closing. The remaining amount of approximately $74.8 million due to Exterran is payable in periodic cash payments through the first quarter of 2016.