Clearfork Midstream LLC has secured a capital commitment from EnCap Flatrock Midstream and entered into a definitive agreement to purchase Azure Midstream Energy LLC, Clearfork said in a release.
Azure Midstream’s natural gas gathering and treating platform spans the core areas of the Haynesville Shale formation and includes more than 500 miles of pipeline and 1.2 billion cubic feet per day of treating capacity across systems in north Louisiana and East Texas. Azure Midstream has nine downstream interconnects offering access to major market hubs, including Henry Hub, Houston Ship Channel/Katy, Carthage, Columbia Gulf Mainline, Perryville and Agua Dulce (via TETCO and NGPL). The Haynesville natural gas play is well-positioned with proximity to large end-use markets and the growing U.S. Gulf Coast LNG export complex.
Latham & Watkins LLP served as legal adviser to EnCap Flatrock Midstream on the equity commitment with James M. Garrett in the lead role. Vinson & Elkins LLP served as legal adviser to Clearfork on both the equity commitment and the acquisition of Azure Midstream.
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