Porter Hedges Represents Align Midstream in Joint Venture with Sabine Oil & Gas
Porter Hedges represented Align Midstream Partners II, LLC ("Align"), a Dallas-based midstream company backed by Tailwater Capital, in the completion of the TOPS Pipeline and the formation of a joint venture agreement in the pipeline with Sabine Oil & Gas, a fully owned subsidiary of Osaka Gas USA ("Osaka").
The TOPS pipeline is a 30-mile, 16-inch diameter gas gathering pipeline in the Carthage area with interconnections to key downstream takeaway markets. The transaction marks Osaka's first acquisition in the midstream business in the United States.
Align Midstream Partners II focuses on servicing producers' needs in East Texas with gathering, processing and treating assets across the Haynesville and Cotton Valley formations.
Sabine Oil & Gas Corporation is a Houston, Texas based oil & natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties in the onshore United States.
Dallas-based Tailwater Capital is a growth-oriented energy private equity firm that currently manages more than $3.7 billion in committed capital and the team has executed more than 100 energy transactions in the upstream and midstream sectors representing over $20 billion in transaction value.
For additional information, please see the Align press release here.