Troutman Pepper Locke advised Summit Midstream Corporation (SMC), a value-driven corporation focused on developing, owning, and operating midstream energy infrastructure assets, in its acquisition of Moonrise Midstream from Fundfare Resources Company Holdco, LLC, for a total consideration of $90 million, including $70 million in cash and $20 million in SMC equity.
The acquisition expands Summit’s gathering and processing footprint in the DJ Basin with approximately 80 miles of natural gas gathering pipeline, approximately 25 miles of crude oil gathering pipeline, and 65 MMcf/d of additional processing capacity.
The team that represented SMC in the transaction was led by Bill Swanstrom, Jennie Simmons, and Lauren Richter, and included Jeremy Petersen, Jon Daly, David Wilhelm, Ben Cowan, Mack McGuffey, Elizabeth Corey, Alex Dillard, Lani Blake, Grace Elliott, 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.
Original source can be found here.