A Locke Lord team led by Bill Swanstrom (Houston) represented EnCap Flatrock Midstream as Lotus Midstream, a portfolio company of EnCap Flatrock, announced the acquisition of the Centurion pipeline system and a Southeast New Mexico crude oil gathering system from Occidental Petroleum Corporation. The Centurion pipeline system is approximately 3,000 miles of pipelines and the Southeast New Mexico gathering system includes more than 50 miles of pipelines with connections to the Centurion system. EnCap Flatrock sponsored Lotus with an initial capital commitment of $400 million in February 2018 and will provide additional financial support for the acquisition. For additional information, please see the press release. Additional assistance was provided by Terry Radney and Elizabeth Guffy (Houston), Heather Stone (Boston) and Van Jolas (Dallas).
Posted on August 9, 2018