A multibillion-dollar flurry of consolidation swept across the remote Delaware Basin last year, putting much of the acreage in the hands of longer-term developers. Now, on the cusp of full-out development, how do buyers plan to take it to the next level?
“Since starting out, Geoff Cole has only moved onward and upward in his career. Hired out of college into TPG Capital, he knows firsthand the positive impact young energy pro-fessionals can make on the sector. One piece of advice Cole would emphasize to other young professionals is the importance of networking, which is reflected in…
FORT WORTH, TX – February 9, 2023 – Brazos Midstream (“Brazos”) (the “Company”) today announced that its subsidiary, Brazos Delaware II LLC, has completed the issuance of a new $800 million senior secured Term Loan B due February 2030. The Company used the net proceeds from the Term Loan, along with excess balance sheet cash, to repay its existing $830 million Term Loan B due May 2025. As part of the transaction, Brazos has also increased its currently undrawn super-priority revolving credit facility to $150 million from $90 million and extended the facility’s maturity date to 2028.
FORT WORTH, TX – November 3, 2021 – Brazos Midstream (Brazos) today announced two significant transactions in the Permian Basin region of West Texas. Brazos Delaware, LLC acquired the Pecos Gas Gathering System (Pecos) from Diamondback Energy, Inc. (Diamondback) and its midstream affiliate Rattler Midstream (Rattler). Additionally, newly-formed Brazos Midland, LLC has closed on the acquisition of Diamondback’s Mustang Springs Gas Gathering System, dba Permian Gathering, LLC (Mustang Springs).
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