| Ticker: MWHX | 5613 DTC PArkway, Suite 400 | |
| Exchange: NASDAQ-National Market | Englewood, Colorado 80111 | |
| Industry: Natural Resources | (303) 290-8700 |
| Type of Shares: | Common Shares | Filing Date: | 8/2/96 | |
| U.S. Shares: | 2,400,000 | Offer Date: | 10/9/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,400,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.70 | |
| Offering Amount: | $28,800,000 | Selling: | $0.42 | |
| Expenses: | $585,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,125,000 |
| Manager | Tier | Phone |
| Dillon, Read & Co. Inc. | Lead Manager | (212) 906-7000 |
| George K. Baum & Company | Co-manager | (816) 283-5332 |
| Auditor: BDO Seidman | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $48.07 | $28.62 | $22.93 | Assets: | $43.99 |
| Net Income: | $7.82 | $4.49 | $4.27 | Liabilities: | $17.53 |
| EPS: | $0.86 | $0.49 | $0.46 | Equity: | $26.46 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is engaged in natural gas processing and related services. The company, which has grown substantially since its founding in 1988, is the largest processor of natural gas in Appalachia and recently established a venture to provide natural gas processing services in western Michigan. The independent gas processing industry has grown rapidly in the last 10 years, and the company believes there will be substantial opportunities to grow its gas processing operations within these existing core regions and in new markets. The company provides compression, gathering, treatment, and natural gas liquid (NGL) extraction services to natural gas producers and pipeline companies and fractionates NGLs into marketable products for sale to third parties. The company also purchases, stores and markets natural gas sources for its processing activities. In the twelve months ended December 31, 1995, MarkWest produced approximately 92 million gallons of NGLs and marketed approximately 127 million gallons of NGLs. |
| Use of Proceeds |
| The proceeds from the offering will be used for the repayment of indebtedness (including indebtedness incurred to make distributions to partners of MarkWest Partnership) and capital expenditures in the Michigan Core Area. |
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