Shares of American Midstream Partners (AMID), a Houston-based limited partnership that develops midstream energy assets, are higher in morning trading after announcing that it expects yearly adjusted EBITDA at the higher end of the previously provided range. The company also announced the simultaneous acquisition and closing of additional minority interests in Delta House.

ADJUSTED EBITDA VIEW: In early May, the company said it sees the fiscal year 2016 adjusted EBITDA in a range of $125M-$135M. American Midstream said this morning that it expects the EBITDA to come in at the higher end of this range.

DELTA HOUSE PRODUCTION: Earlier today, American Midstream Partners announced the simultaneous acquisition and closing of additional minority interests in Delta House, bringing its total equity interest to 20.14%. Delta House is a fee-based, semi-submersible floating production system and associated oil and gas pipelines in the Gulf Coast. The company acquired the additional interests from Red Willow Offshore, LLOG Bluewater Holdings, and Ridgewood Energy for total consideration of approximately $49M.

ACCRETIVE ACQUISITION: The company noted that the acquisition is immediately accretive to adjusted EBITDA and distributable cash flow. The additional Delta House interest is in line with the partnership’s plan to build a portfolio of complementary assets across multiple strategic basins. “We are pleased with the performance of Delta House and the associated strong returns since our initial acquisition. We continue to see substantial resource development where the production growth and producer economics in the Gulf of Mexico are exceeding expectations. To take advantage of significant future production growth, we have decided to increase our investment,” said Lynn Bourdon III, the CEO of the company.

PRICE ACTION: Shares of American Midstream Partners are up nearly 3% to $13.55 in late morning trading.