HOUSTON – Troutman Pepper Locke advised Western Midstream Partners, LP (WES), a master limited partnership formed to develop, acquire, own, and operate midstream assets, in its definitive agreement to acquire all of the outstanding equity interests of Brazos Delaware II, LLC, one of the largest privately held gathering and processing platforms in the Texas Delaware Basin, in a transaction valued at approximately $1.6 billion. For more information, see the press release.
Under terms of the agreement, WES will pay approximately $800 million in cash and issue approximately $800 million in WES common units at closing. The transaction will expand WES’ natural gas, crude oil, and natural gas liquids gathering and processing footprint across the core of the Delaware Basin.
The Troutman Pepper Locke team advising WES is led by Jon Daly and Jennie Simmons, and includes Gislar Donnenberg, Alex Dillard, Jessie Ames, Cassie Chen, Jacob Richards, Cody Mathis, Emily Fahey, Buddy Sanders, Andrew Nelson, John Nelson, Tammi Niven, Sagar Patel, Gerry Pels, Elizabeth Corey, Ed Razim, Grace Elliott, Elizabeth Casey, Chris Barth, Van Jolas, Julian Weiss, Marc Machlin, and Jeff Strenkowski.
Consistently recognized as a top-tier practice, Troutman Pepper Locke’s corporate attorneys regularly handle strategic deals for Fortune 100 corporations and middle market transactions for private equity clients. Core areas of service include mergers and acquisitions, corporate finance, corporate governance, securities laws compliance, capital markets transactions, and other significant domestic and cross-border transactions, as well as general corporate counseling.
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