EnCap Flatrock Midstream confirmed it has executed definitive agreements to sell Momentum Midstream (M6), an independent midstream energy company of which EnCap Flatrock is a financial sponsor, to U.S. midstream energy company Williams in a deal that could fetch $5.5 billion.
The transaction consideration consists of $3.5 billion in cash and debt consideration and roughly $2 billion of Williams equity.
Headquartered in Houston, M6 operates a premier large-scale natural gas system representing the next generation of Gulf Coast infrastructure. The company’s assets include more than 4,000 miles of gathering and transmission pipelines, supported by more than 1 million dedicated acres delivering critically important natural gas to key Gulf Coast regions such as the Bethel, Carthage and Silsbee hubs in east Texas and the Gillis hub in southwest Louisiana.
M6’s assets provide approximately 6 billion cubic feet per day (Bcf/d) of system capacity to more than 140 cus
