Troutman Pepper Locke Advises EMG and Medallion in Sale of Crude Oil Business in Delaware Basin to Plains Oryx Permian Basin

HOUSTON — Troutman Pepper Locke represented The Energy & Minerals Group (EMG) and EMG Medallion 2 Holdings, LLC (Medallion), an EMG portfolio company that owns over 140 miles of crude oil pipelines and approximately 106,000 barrels of crude oil storage capacity in the core of the southern Delaware Basin, in its sale of 100% of the membership interests of Medallion to a wholly owned subsidiary of Plains Oryx Permian Basin LLC.

EMG is a specialized natural resource focused private equity firm founded in 2006 with current assets under management of approximately $13 billion as of September 30, 2024. In addition, EMG’s funds and co-investments have returned approximately $11 billion to Limited Partners to date. EMG targets equity investments of $150 million to $1,000 million across the natural resource industry, which includes the extraction and processing of the critical metals and minerals to facilitate decarbonization as well as upstream and midstream energy.

The team that advised EMG and Medallion in the sale was led by Bill Swanstrom and Jennie Simmons, and included Shumaila Dhuka, Alex Dillard, Joe Farside, Tammi Niven, Eric Larson, and Andrew Nelson.

Troutman Pepper Locke’s market-leading energy practices help clients with their most important and complex matters throughout the U.S. and beyond. From electric power, oil and gas, or emerging technologies, the cross-discipline team is equipped to handle any related matters, drawing on the depth of the firm’s knowledge in the market. Troutman Pepper Locke regularly advises electric utilities, independent power producers, banks, upstream and midstream natural gas companies and service companies, private equity funds, and other large corporations. Learn more at energylawinsights.com.

Troutman Pepper Locke

Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.