Inergy and Crestwood Midstream have agreed to form a $7 billion midstream partnership to tap into major shale plays, including the Bakken and Marcellus formations. "We view this transaction as a merger of equals through which we are creating a larger, more diversified operating platform that will be highly attractive to investors, customers, creditors and employees," said Crestwood's Robert Phillips, who will serve as president and CEO of the new company.

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