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Acquisitions Elevate EagleClaw Midstream to Largest Pure-Play Delaware Midstream Provider

Acquisitions Elevate EagleClaw Midstream to Largest Pure-Play Delaware Midstream Provider

EagleClaw Midstream is now the largest pure-play, privately-held Delaware Basin midstream business, after its concurrent acquisition of Caprock Midstream Holdings and Pinnacle Midstream, which were announced today.   History of planned $950 million acquisition The planned acquisition of Caprock Midstream was publicly proposed in September.  EagleClaw Midstream is a portfolio company of Blackstone Energy Partners. According to its September statement, EagleClaw planned to acquire Caprock Midstream Holdings  from Energy Spectrum Capital and Caprock Midstream Management for $950 million plus pre-closing adjustments. EagleClaw’s current executive leadership team would lead the combined business, which would operate under the EagleClaw name, following the closing of the transaction.   EagleClaw portfolio and transaction details In terms of specifics with present-day developments, EagleClaw, along with Caprock Midstream and I Squared Capital announced that its parties have concurrently executed and closed binding agreements in which I Squared Capital has committed over $500 million of cash, in[Read More…]

November 2, 2018 - 2:45 pm Closing Bell Story, Mergers & Acquisitions, Midstream