BP Energy Partners has plans to sell Pinnacle Midstream, a portfolio company of BPEP, to I Squared Capital through its ISQ Global Infrastructure Fund II.
Pinnacle is a provider of crude and natural gas gathering, natural gas processing and related midstream solutions in the Delaware portion of the Permian Basin of West Texas. The newly built infrastructure serves multiple producers in an area with some of the highest rig activity in the United States. Pinnacle’s current management team will continue to run the company as it pursues its growth strategy. The transaction is expected to close following customary regulatory approvals.