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The partnership has closed the sale of its undivided 12.4% interest in the Seminole gas processing plant to plant operator Hess Corporation for USD85.0m. The Seminole plant is a tertiary recovery facility operated to reinject carbon dioxide into the San Andres unit in Gaines County, Texas.
The partnership also completed the sale of another non-strategic asset for USD20.0m, which resulted in total proceeds from both transactions of USD105.0m.
In conjunction, the partnership said it completed the amendment of its existing debt covenants to create additional room to operate.
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