Initial Public Offering
Baird served as a co-manager on this offering.
AboutPennTex Midstream Partners, LP (the “Partnership”) (NASDAQ: PTXP) recently completed an initial public offering of 11,894,462 common units at a price of $20.00 per unit, generating gross proceeds of approximately $237.9 million. The Partnership intends to use proceeds from the offering to reimburse PennTex Development and MRD WHR LA LLC for capital expenditures, pay down PennTex North Louisiana LLC’s revolving credit facility and fund a portion of capital expenditures incurred in connection with the construction of the Partnership’s initial assets.
PennTex Midstream Partners, LP is a growth-oriented limited partnership focused on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. The Partnership’s parent, PennTex Development, was formed by Natural Gas Partners (“NGP”) and members of PTXP management to develop a multi-basin growth platform with an initial focus on organic growth projects in partnership with oil and natural gas producers affiliated with NGP. The Partnership intends to leverage its relationships with NGP and its parent with a view of becoming a leading midstream energy company serving attractive oil and natural gas basins throughout North America. The Partnership is headquartered in Houston, Texas.
For additional information about this transaction, please contact:
- June 2015
- PennTex Midstream Partners, LP
- Target Location
- North America