Blackstone Energy Partners to Acquire EagleClaw Midstream Ventures
EagleClaw Midstream Ventures, LLC and its financial sponsor, EnCap Flatrock Midstream, have entered into a binding agreement to sell the company to funds managed by Blackstone Energy Partners and Blackstone Capital Partners for approximately $2 billion.
The all-cash transaction is expected to close by the end of July 2017 and includes approximately $1.25 billion in stapled debt financing provided by Jefferies LLC. Once finalized, EagleClaw will retain its name and operate as a Blackstone portfolio company.
EagleClaw is the largest privately held midstream operator in the Delaware Basin in West Texas. The company’s assets are strategically located in Reeves, Ward and Culberson counties and include more than 375 miles of natural gas gathering pipelines and 320 million cubic feet per day (MMcf/d) of processing capacity with an additional 400 MMcf/d under construction.
Related News
Related News
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- U.S. House Passes Bill to Reverse Biden's LNG Pause
- Mexico Orders Seizure of Hydrogen Plant at Pemex Oil Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- MEG Energy Confirms Trans Mountain Pipeline Expansion to Begin Line Fill in April
Comments