Deal Details
Acquisition of a 50% interest in Jackalope Gas Gathering Services, L.L.C.
Summary
Baird served as financial advisor and provided a fairness opinion to the Conflicts Committee of the Board of Directors of Crestwood Gas Services GP LLC
About
Crestwood Midstream Partners LP (“Crestwood”) (NYSE: CMLP) recently announced that its subsidiary, Crestwood Niobrara LLC, has completed the acquisition of a 50% interest in Jackalope Gas Gathering Services, L.L.C. (“Jackalope”) from RKI Exploration & Production, LLC (“RKI”) for total cash consideration of $107.5 million.The Jackalope gathering and processing system (“Jackalope System”) is located in Converse County, Wyoming, in the emerging Powder River Basin Niobrara Shale play and is currently composed of approximately 100 miles of gathering pipelines and 9,400 horsepower of compression equipment. The Jackalope System is being developed to gather and process rich natural gas produced from a 311,000-acre area of dedication from Chesapeake Energy Corporation and RKI.
Crestwood is a growth-oriented, midstream master limited partnership which owns and operates predominately fee-based gathering, processing, treating and compression assets servicing natural gas producers in the Barnett Shale in north Texas, the Marcellus Shale in northern West Virginia, the Fayetteville Shale in northwest Arkansas, the Granite Wash in the Texas Panhandle, the Avalon Shale/Bone Spring in southeastern New Mexico and the Haynesville/Bossier Shale in western Louisiana. Crestwood is headquartered in Houston, Texas.
For additional information about this transaction, please contact:
- Date
- July 2013
- Company
- Crestwood Midstream Partners LP
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
- Acquiror Geography
- North America
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