Kingfisher Midstream LLC (KFM), a private gathering and processing midstream company, has entered into a $200 million senior secured revolving credit facility with ABN AMRO Capital USA LLC as Administrative Agent, Book Runner, and Lead Arranger. East West Bank and Wells Fargo Bank NA act as Syndication Agent and Documentation Agent, respectively. Proceeds from the revolving credit facility will be primarily used to fund capital expenditures, including completion of a new, under-construction 200 Mmcf/d cryogenic processing plant expected to be in service during the fourth quarter of 2017.
Commenting on the agreement, Michael Christopher, CFO of KFM, said that the company’s “underlying acreage dedications and STACK footprint are the cornerstone of the credit facility being upsized from $150 million to $200 million."
Durham Jones & Pinegar served as legal advisors to KFM. Thompson & Knight LLP served as legal advisors to ABN AMRO.
Kingfisher Midstream, LLC is a partnership formed in 2015 with HPS Investments Partners LLC to provide crude oil gathering and natural gas gathering and processing services in the STACK play of Oklahoma.