Blackstone Energy Partners acquires EagleClaw Midstream Ventures

Source: Eagleclaw Midstream

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 MMcf/d of processing capacity with an additional 400 MMcf/d under construction.

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. Blackstone Energy Partners is the energy-focused private equity business of Blackstone (NYSE: BX). 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 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. EagleClaw serves many of
the region’s leading oil and gas producers, which have made to the company long-term dedications of natural gas volumes from more than 220,000 acres.

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 and are investing alongside Blackstone in this transaction.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs