Transactions - APRIL 17, 2017

Blackstone Energy Partners to acquire EagleClaw Midstream Ventures

by Released 4/17/17

EagleClaw Midstream Ventures 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.

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 of processing capacity with an additional 400 million cubic feet per day under construction.

EagleClaw will retain its name and operate as a Blackstone portfolio company.

The all-cash transaction is expected to close by the end of July 2017.

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