HOUSTON, March 2, 2012: Project Finance magazine has announced that the Peregrine Midstream Partners US$145m project financing to back its Ryckman Creek gas storage project in Wyoming is the 2011 North American Oil & Gas Deal of the Year.
Porter Hedges represented ING Capital, LLC as the agent under the credit facility in this deal. The lenders were ING Capital, Royal Bank of Canada, Skandinaviska Enskilda Banken AB, and Sumitomo Mitsui Banking Corporation.
The Project Finance “Deal of the Year” Awards recognize “innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects, large or small.”
The Borrower is Ryckman Creek Resources, LLC (an affiliate of Peregrine Midstream Partners, LLC). The equity portion of the transaction was provided by EQT Infrastructure Limited and certain of its offshore funds. The original “developer” of the project was the Nielson Group.
The Porter Hedges’ team was led by partners Nick Sorensen and Joyce Soliman and Of Counsel Bill Wiggins who were assisted by Randy King, Cindy Holub, Corey Brown, Jason Lloyd, Mac Marshall, Ashley Aiello, Beverly Young, Vincent Schuster and Deborah Ko.
"North American Oil & Gas Deal of the Year 2011: Ryckman Creek," ProjectFinance (March 2, 2012)