boston, September 22, 2022 /PRNewswire/ — Midcoast Energy, LLC (“Midcoast”), a subsidiary of ArcLight Energy Partners Fund VI, LP (and its affiliate “ArcLight”), east texas Operating platform to Momentum Midstream LLC, a subsidiary of EnCap Flatrock Midstream and other financial partners (“East Texas Business”).
The East Texas operations consist of midstream operations from East Texas Hainesville to the Gulf Coast, providing collection, processing, treatment within the basin, and long distance transportation to rapidly growing end markets including the US Gulf Coast. It offers.
While owning Midcoast, ArcLight $300 million In expanding its East Texas operations, including the development and commercialization of the CJ Express expansion project, which will provide 1 Bcf/d natural gas transportation service to the US Gulf Coast LNG market. The East Texas business underpinned Arkwright’s 2018 acquisition of Midcoast, a segment that delivered over 75% of his throughput growth during the period of ownership.
“Our East Texas business plays a key role in providing domestic and international markets with access to clean, affordable and reliable energy resources produced in Hainesville. We look forward to continuing to grow under the ownership of our extensive team,” said Dan Revers, Founder and Managing Partner of ArcLight.
In this transaction, Midcoast was served by Jefferies LLC as exclusive financial advisor and Latham & Watkins LLP as legal advisor.
ArcLight is a leading private equity firm with a long-term track record focused on energy, infrastructure and the energy transition. Founded in 2001, the company helped pioneer an asset-based approach to investing across power, renewable energy, infrastructure and the broader energy value chain.Since then, ArcLight has been around $27 billion In 122 transactions including more than $11 billion Equity investments in the electrification segment, including investments in power, transmission, renewable infrastructure and energy transition. Through its large infrastructure portfolio, Arkwright provides ESG-focused decarbonized energy solutions, including providing access to reliable and affordable energy sources through safe and green operations. We invest in companies that provideto the original boston, the firm’s investment team employs a value-added investment approach that benefits from dedicated in-house technical, operational and commercial experts and partners, and approximately 1,800 wealth management affiliates. For more information on ArcLight, please visit www.arclight.com.
Source: Arklight Capital Partners