Clearfork Completes Acquisition of Azure Midstream
HOUSTON (P&GJ) — Azure Midstream Energy, a natural gas midstream company operating in North Louisiana and East Texas, announced Tuesday that it has closed on its sale to Clearfork Midstream. Terms of the sale were not disclosed.
Katy, Texas-based Azure was founded in 2012 by industry veteran I.J. "Chip" Berthelot, II, who also has founded, operated and sold other natural gas midstream companies over the past two decades, including Laser Midstream Company and Laser Northeast Gathering Company.
Azure Midstream's natural gas gathering and treating platform spans the core areas of the Haynesville Shale formation and includes more than 500 miles of pipeline and 1.2 Bcf/d of treating capacity across systems in North Louisiana and East Texas.
It has nine downstream interconnects offering access to major market hubs, including Henry Hub, Houston Ship Channel/Katy, Carthage, Columbia Gulf Mainline, Perryville and Agua Dulce, via TETCO and NGPL.
Based in Fort Worth, Texas, Clearfork was formed in 2020 to provide midstream solutions for oil and gas producers in basins across North America, with a specific emphasis on unconventional natural gas production in the Haynesville/Bossier Shale formation in North Louisiana and East Texas.
Clearfork Midstream partnered with EnCap Flatrock Midstream for the transaction. Investment banking firm Jeffries served as sole financial advisor and Porter Hedges LLC served as corporate counsel to Azure Midstream.
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