Tailwater Capital and Producers Midstream II’s Acquisition of Midcoast Energy’s Anadarko Basin Operations

Kirkland & Ellis LLP is serving as legal advisor to Tailwater Capital and Producers Midstream. Gibson, Dunn & Crutcher LLP is serving as legal advisor and Moelis & Company LLC is serving as exclusive financial advisor to Midcoast Energy.

Tailwater and its portfolio company Producers Midstream II executed the acquisition of ArcLight Capital-backed Midcoast Energy’s Anadarko basin operations, consisting of 100 percent of Midcoast Energy’s Anadarko gathering and processing (G&P) system and a 35 percent interest in the Texas Express Gathering (TEG) system. The Anadarko G&P system includes more than 3,200 miles of pipelines, 870 million cubic feet per day of processing capacity and 292,000 horsepower of compression spanning the Texas Panhandle and Western Oklahoma. The TEG system includes 138 miles of Y-grade pipelines directly connecting the Anadarko Basin to the Mt. Belvieu hub. Producers Midstream II will integrate the acquired assets with its existing Scurry and Fisher County gas gathering and processing system.

Kirkland advised Tailwater Capital and Producers Midstream with Kevin Crews (Picture), Courtney Roane and associates Catharine Hansard, Jessica Berkowitz, Brock Baker and John Morgan; tax partners David Wheat and Lane Morgan; technology & IP transactions partner Shellie Freedman and associate Donovan Suh; executive compensation partner Rob Fowler; labor & employment partner R.D. Kohut and associates Xander Flynn-Tabloff and Carmen Francella; employee benefits partner Alexandra Mihalas and of counsel Patrick Ryan; and real assets partner Chad Smith and associate Will Eiland.

Involved fees earner: Brock Baker – Kirkland & Ellis; Jessica Berkowitz – Kirkland & Ellis; Kevin Crews – Kirkland & Ellis; William Eiland – Kirkland & Ellis; Alexander Flynn-Tabloff – Kirkland & Ellis; Robert Fowler – Kirkland & Ellis; Carmen Francella, III – Kirkland & Ellis; Catharine Hansard – Kirkland & Ellis; R.D. Kohut – Kirkland & Ellis; Alexandra Mihalas – Kirkland & Ellis; John Morgan – Kirkland & Ellis; Lane Morgan – Kirkland & Ellis; Courtney Roane – Kirkland & Ellis; Patrick Ryan – Kirkland & Ellis; Chad Smith – Kirkland & Ellis; Donovan Suh – Kirkland & Ellis; Shellie Weisfield Freedman – Kirkland & Ellis; David Wheat – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Producers Midstream; Tailwater Capital LLC;

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Author: Ambrogio Visconti