• 3 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 6 minutes This Battery Uses Up CO2 to Create Energy
  • 10 minutes Phase One trade deal, for China it is all about technology war
  • 12 minutes Trump has changed into a World Leader
  • 3 hours Indonesia Stands Up to China. Will Japan Help?
  • 2 hours Shale Oil Fiasco
  • 3 hours Might be Time for NG Producers to Find New Career
  • 6 hours Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 6 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 8 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 15 mins Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard
  • 7 hours Beijing Must Face Reality That Taiwan is Independent
  • 2 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 7 hours China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 24 hours US Shale: Technology
  • 2 days Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019

Breaking News:

Brazil Breaks Oil Production Record

Oil & Gas 360

Oil & Gas 360

From our headquarters in Denver, Colorado, Oil & Gas 360® writes in-depth daily coverage of the North American and global oil and gas industry for…

More Info

Premium Content

Blackstone Buys Into Permian For $2 Billion

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.

EagleClaw is the largest privately held midstream operator in the Permian’s Delaware Basin. The company’s assets are located in Reeves, Ward and Culberson counties, with processing facilities located primarily in Reeves County, Texas. The EagleClaw assets include:

- Total miles of pipeline: 375
- Total field compression horsepower: 48,000
- Total processing capacity: 320 MMcf/d
- Total processing capacity under construction: 400 MMcf/d

EagleClaw moves natural gas volumes from more than 220,000 acres.

(Click to enlarge)

Source: EagleClaw Midstream

EagleClaw will retain its name and operate as a Blackstone portfolio company. The leadership team and fundamentally all of the company’s employees will remain in their current roles, the company said in a statement.

Jefferies LLC acted as EagleClaw’s exclusive financial adviser in connection with the transaction and was the sole provider of the committed debt financing. The Jefferies team was led by Co-Head of Energy Investment Banking Peter Bowden. Blackstone was advised by Trevor Heinzinger of Morgan Stanley & Co. LLC and Skip McGee of Intrepid Partners LLC.

Frost Brown Todd LLC served as legal counsel to EagleClaw with partner Edward W. Moore, Jr. in the lead role from the firm’s Dallas office. Thompson & Knight LLP represented EnCap Flatrock Midstream, with partner Sarah E. McLean in the lead role from the firm’s Houston office. Blackstone was represented by Vinson & Elkins LLP, whose team was led by partner Keith Fullenweider.

By Oil and Gas 360

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play