April 2, 2010 (FinancialWire) — MarkWest Energy Partners, L.P. (NYSE: MWE) said that it has priced an upsized public offering of 4.25 million common units at $30.43 per common unit.

The partnership has granted the underwriters a 30-day option to purchase a maximum of 637,500 additional common units to cover over-allotments, if any.

MarkWest said it plans to use the net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, of approximately $123.4 million, as well as any proceeds from the exercise of the underwriters’ over-allotment option, to partially fund its ongoing capital expenditure program.

Pending that use, the partnership plans to apply a portion of the net proceeds to pay down borrowings under its revolving credit facility.

Colorado-based MarkWest Energy Partners is engaged in the gathering, transportation, and processing of natural gas; the transportation, fractionation, marketing, and storage of natural gas liquids; and the gathering and transportation of crude oil.

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